HomeNewsSouth KoreaGrand Korea Leisure with 60 percent sequential decline in profits for 2Q23

Grand Korea Leisure with 60 percent sequential decline in profits for 2Q23

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Grand Korea Leisure Co. has reported a second-quarter net profit of KRW8.6 billion won ($6.5 million), swinging from a loss of KRW8 billion ($6 million) a year earlier.

However, when compared to the previous quarter GKL reported a 60.3 percent decline in net profit attributable to the shareholders.

The South Korean foreigner-only casino operator ended the April-June period with KRW11 billion in operating profit, compared with a loss of KRW10.7 billion ($6.5 million) a year ago, the company said in a regulatory filing, with revenue rising 108.5 percent to 100.2 billion ($76.2 million).

Grand Korea Leisure is a subsidiary of the Korea Tourism Organization, which is governed by South Korea’s Ministry of Culture, Sports and Tourism.

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