S. Korea's GKL November casino sales rise by 8 pct

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Grand Korea Leisure (GKL), a Korean casino operator, said Monday that it posted solid sales in November. Grand Korea Leisure said its casino sales rose 8.2 percent on-year to about 4.5 billion won (US$38 million) last month.

On a month-over-month basis, casino sales rose 23.4% in November compared with October.

The year-over-year increase in casino sales was maintained as table game sales rose 9.2% during the month of November, slightly above W40.31 billion. Machine game sales during the period were flat at about W4.69 billion compared to November 2018.

The company's monthly update does not provide a comment on the reasons for the earnings change.

GKL is a subsidiary of the Korea Tourism Organization, which is affiliated with the Ministry of Culture, Sports and Tourism in Korea. The casino operator, under the Seven Luck brand, runs three foreigner-only casinos in Korea, two in the capital city of Seoul and one in the southern port city of Busan.

The company said casino sales fell slightly by 1.1% year-on-year to about 441.58 billion won in the first 11 months of 2019.

Table game sales fell 1.6% year-on-year to W388.02 billion in the January-November period. Machine game sales rose 2.7% to about W53.56 billion in the 11 months to Nov. 30.

The casino operator posted a 4.1% year-on-year drop in third-quarter net profit to about 25.29 billion won, despite a 2.3% increase in sales during the period, according to November data.

BY: 우리카지노탑