Grand Korea Leisure reports narrowed net loss in 1Q22, casinos sales rise

Grand Korea Leisure (GKL)

South Korean casino operator Grand Korea Leisure (GKL) reported a net loss of KRW10.8 billion (US$8.5 million) in 1Q22, despite a rise in casino sales on strong table game performance. 

The loss narrowed from the net loss recorded in the prior year period at KRW37.4 billion. 

The company also reported an operating loss of KRW13.2 billion for the January to March period, compared to an operating loss of KRW46.6 billion a year earlier. 

Grand Korea Leisure operates three foreigner-only casinos – two in Seoul and one in Busan.

In March, GKL said its casino sales were driven primarily by gains in table games and saw its best performance that month since the beginning of the pandemic.

Felix is the Asia Editor and Events Director of the Asia Gaming Brief. He has over a decade of experience developing conferences for industries including gaming, telecoms, investment, biotechnology, and mining. He has developed some of the most well-known conferences for the Asian gaming industry, most recently being the ASEAN Gaming Summit, the Australasian Gaming Seminars, and the Mekong Gaming Summit. Felix covers gaming technology and innovation and is passionate about developing engaging and eye-catching content for the industry.