Grand Korea Leisure Co., Ltd. (GKL), a South Korean operator of foreigner-exclusive casinos, noticed a major enhance in its March income, with complete on line casino gross sales reaching roughly KRW41.45 billion (US$28.3 million). This marks a 27.7% enhance from February and a 2.6% rise year-over-year, in line with a submitting with the Korea Change.
An in depth breakdown of the income reveals that desk video games have been the first driver of this development, accounting for KRW38.45 billion (US$26.2 million), as GGRAsia identified. This determine represents a 28.2% sequential enhance and a 3.0% achieve in comparison with March 2024. In the meantime, slot machine income totaled KRW3.00 billion (US$2.04 million), reflecting a 22.0% enhance from the earlier month. Nevertheless, slot income was down 1.9% in comparison with the identical interval final yr.
Q1 2025 Efficiency Highlights
For the primary quarter of 2025, GKL reported cumulative on line casino gross sales of KRW108.25 billion (US$73.8 million), marking a 15.6% enhance year-over-year. Regardless of the sturdy income development, the corporate’s desk drop—the entire quantity exchanged for gaming chips—noticed a 9.7% decline from the earlier yr, standing at roughly KRW826.86 billion (US$564 million).
March proved to be essentially the most profitable month for GKL to this point in 2025, aligning with an upward pattern additionally seen by different South Korean foreigner-only on line casino operators resembling Paradise Co. and Lotte Tour.
GKL’s Market Place and Future Prospects
Grand Korea Leisure operates three casinos beneath the Seven Luck model, with two situated in Seoul, together with one within the Gangnam district, and a 3rd within the port metropolis of Busan. These institutions supply a wide range of gaming choices, together with desk video games resembling baccarat, blackjack, roulette, tai sai, poker, on line casino struggle, large wheels, and Texas maintain ’em, in addition to machine video games like slot and video machines.
Established on September 6, 2005, the corporate is a subsidiary of the Korea Tourism Group, which is affiliated with South Korea’s Ministry of Tradition, Sports activities, and Tourism. Headquartered at 610 Samseong-ro, Gangnam-gu, Seoul, GKL employs roughly 1,750 people. The corporate’s management contains Co-Chief Govt Officers and Presidents Tae Yoo and Younger Kim, who oversee its strategic route and operations.
Though latest monetary experiences advised weaker earnings, deeper evaluation signifies that the corporate’s underlying monetary well being stays sturdy. Notably, GKL’s free money stream for the 2024 fiscal yr considerably outpaced its reported earnings, with KRW66 billion in free money stream in comparison with KRW33.1 billion in statutory revenue. Whereas a decline in free money stream from the prior yr is a priority, the general monetary basis stays strong.
Moreover, in late February, GKL launched a self-developed card recreation, BROG, at considered one of its gaming flooring, signaling continued innovation and growth in its choices. With sturdy money stream backing its operations and an encouraging income trajectory, GKL stays a key participant in South Korea’s foreigner-only on line casino market, poised for additional development within the coming months.
