South Korean casino operator Grand Korea Leisure reported May sales of KRW43.13 billion, up 40.8% year on year and 7.3% from April, in a filing to the Korea Exchange. Sales for January to May totalled KRW189.97 billion, an 8.5% increase on the same period a year earlier.
The results give investors and suppliers an update on GKL’s casino sales performance in South Korea.
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Grand Korea Leisure reported April casino sales of nearly KRW40.19bn in a Korea Exchange filing. Sales rose 11.1% year on year, with table-game revenue up 12.7% and gaming-machine sales down 4.6%.
Grand Korea Leisure said it is recruiting junket partners for its foreigner-only casinos in South Korea as part of its Value-up Plan. The company is targeting annual revenue of KRW503.8 billion by 2030 and said it has already recruited some partners.
GKL said in a filing to the Korea Exchange that it is targeting annual casino revenue of KRW503.8 billion by 2030. The South Korean casino operator also aims to keep its total shareholder payout ratio above 40% and attract customers from markets including Taiwan, Thailand and Mongolia.
It was reported that Grand Korea Leisure’s second-quarter net income reached nearly KRW18.02bn. Earnings rose 6.2% year-on-year and 19.4% compared with the preceding quarter.
Grand Korea Leisure reported net profit of KRW15.09bn for the first quarter, down 6.3% year on year, according to unaudited results filed with the Korea Exchange. Operating income fell 10% to KRW18.15bn, while group-wide sales increased 0.7% to KRW110.65bn and casino sales rose 6% to KRW138.16bn.