South Korea’s foreigner-only casino operator Grand Korea Leisure Co. (GKL) reported a sharp rebound in earnings for the third quarter of 2025, with operating profit soaring 198.8 percent year-on-year to KRW17.3 billion ($12.4 million), driven by stronger casino hold rates and increased visitor traffic.
According to the company’s filing with the Korea Exchange on Tuesday, quarterly revenue rose 16.7 percent from a year earlier to KRW109.4 billion ($78.2 million), while net profit climbed 142.7 percent to KRW14.7 billion ($10.5 million).
The casino drop amount—the total value of chips purchased by customers—reached KRW2.72 trillion ($1.94 billion), down 1.9 percent year-on-year. However, the hold rate improved by 1.3 percentage points to 11.7 percent, supporting overall revenue growth. Casino gaming revenue, representing the portion of the drop not exchanged back into cash, rose 10.9 percent to KRW318.7 billion ($228 million).
Visitor arrivals increased 4.9 percent to 788,000 during the quarter, led by a 16.1 percent surge in Japanese patrons to around 277,000, while Chinese visitors declined 4.6 percent to roughly 336,000.
Local media quoted a company representative as saying that GKL continues to focus on retaining its existing VIP clientele in the Greater China market through tailored marketing programs, including non-face-to-face engagement, baccarat tournaments, and dinner shows customized to guests’ nationalities and preferences.
South Korea’s new visa-free policy for Chinese tour groups also took effect on September 29th, with the government projecting an additional 1 million visitors by the program’s conclusion next June.
