Korean Casino Operators GKL And Paradise Report Positive Growth In November

Korean Casino Operators GKL And Paradise Report Positive Growth In November

Korean casinos reported a strong performance in November. While the Paradise Group posted a year-on-year growth of 31.6%, the Grand Korean Leisure reported an 8.2% increase in revenue in November.

The Paradise group posted a GGR of KRW67.27 billion in November. The increase in GGR has been attributed to a 35 percent increase in table game revenue. The casino operator grossed KRW63.33 billion from table games.

The Paradise Group operates four casinos which are, Paradise Walker-hill, Jeju Grand, Busan Casino, and Paradise City. For the state-run Grand Korea Leisure Co. Ltd (GKL) casino sales jumped 8.2% year-on-year to KRW45 billion in November. GKL also reported strong table games revenue.

The casino operator posted a 23 percent increase in revenue when compared with the revenue generated in October. The operator’s revenue from table games shot up 9.2% to KRW40.31 billion. However, despite a positive November, the overall revenue figures were moderately low.

GKL casino sales so far in the year are down 1.1% to KRW 441.58 billion when compared with the sales during the same period the previous year.

Positive First Month Of The Final Quarter For GKL

For state-run Grand Korea Leisure Co. Ltd (GKL) November is a positive first month of the final quarter of 2019 after the operator reported a dismal third quarter.

In the third quarter, the casino operator reported a net profit of KRW25.29 billion (US$21.9 million). The figure represents a 4.1 percent year-on-year drop in revenue.

Its Q3 sales jumped by 2.3 percent year-on-year to KRW133.36 billion.

Positive Figures For Straight Nine Months For Paradise

November brings straight nine months of positive revenue growth for privately-owned Paradise Co. For October, Paradise had reported a 15.4 percent increase in revenue to KRW80.90 billion (US$69.8 million).

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