S.Korea casino op GKL down 7 pct in 2019 profit

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Korea's Grand Korea Leisure Inc., which operates foreigner-only casinos in Korea, saw its annual profit fall 6.9 percent to just under 72.4 billion won (US$61.2 million). That's up 2.2 percent year-on-year to W490.75 billion, up 2.2 percent from a calendar year in 2019 from W480.34 billion.

In early January, GKL told the Korea Exchange that total casino sales rose slightly in 2019. Total casino sales were W493.1 billion. Table sales during the period were W43.02 million, up 2.1% from 2018, and machinery sales were W59.08 billion, up 2.7% from the previous year.

In Tuesday's announcement, GKL said its fourth-quarter profit for the three months to Dec. 31 rose 167.5 percent year-on-year to exceed 183.31 billion won. That was up nearly 130.85 billion won from a mere 118.84 billion won in quarterly revenue, up 17 percent.

The group, a division of the Korea Tourism Organization, had no comment in its summary Tuesday on why its profit and sales improved in the final quarter.

The casino operator operates three foreigner-only casinos in Korea under the Seven Luck brand, with two in the capital city of Seoul and one in the southern port city of Busan.

GKL's 2019 operating profit was slightly below 96.88 billion won, down 7.9% from 105.06 billion won a year earlier. Quarterly operating profit was slightly below 8.09 billion won, up 181.5% from a year earlier to 22.77 billion won.

In a separate filing on Tuesday, GKL said it had proposed paying annual dividends totaling 32.72 billion won to shareholders registered as of Dec. 31 last year. GKL will hold a board meeting on March 26, which is expected to ratify the proposal.

BY: 파워볼사이트

Reason

Korea's Grand Korea Leisure Inc., which operates foreigner-only casinos in Korea, saw its annual profit fall 6.9 percent to just under 72.4 billion won (US$61.2 million). That's up 2.2 percent year-on-year to W490.75 billion, up 2.2 percent from a calendar year in 2019 from W480.34 billion.

In early January, GKL told the Korea Exchange that total casino sales rose slightly in 2019. Total casino sales were W493.1 billion. Table sales during the period were W43.02 million, up 2.1% from 2018, and machinery sales were W59.08 billion, up 2.7% from the previous year.

In Tuesday's announcement, GKL said its fourth-quarter profit for the three months to Dec. 31 rose 167.5 percent year-on-year to exceed 183.31 billion won. That was up nearly 130.85 billion won from a mere 118.84 billion won in quarterly revenue, up 17 percent.

The group, a division of the Korea Tourism Organization, had no comment in its summary Tuesday on why its profit and sales improved in the final quarter.

The casino operator operates three foreigner-only casinos in Korea under the Seven Luck brand, with two in the capital city of Seoul and one in the southern port city of Busan.

GKL's 2019 operating profit was slightly below 96.88 billion won, down 7.9% from 105.06 billion won a year earlier. Quarterly operating profit was slightly below 8.09 billion won, up 181.5% from a year earlier to 22.77 billion won.

In a separate filing on Tuesday, GKL said it had proposed paying annual dividends totaling 32.72 billion won to shareholders registered as of Dec. 31 last year. GKL will hold a board meeting on March 26, which is expected to ratify the proposal.

BY: 파워볼사이트

Petition details

Petition started: 05/08/2024
Collection ends: 08/07/2024
Region: European Union
Topic: Sports

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