Grand Korea Leisure posts net income of US$32.8m for 2023

The South Korean casino operator has returned to profitability in 2023, posting a net income of KRW44.08bn (US$32.8m) for the full year, up 51.3 per cent year-on-year.

Grand Korea Leisure (GKL) has reported a net income of KRW44.08bn (US$32.8m) for 2023. The figure represents a turnaround from the net loss of KRW22.74bn reported in 2022, mainly due to the Covid-19 pandemic.

GKL also reported aggregate sales were up 51.3 per cent year-on-year to KRW396.69bn while operating income reached KRW51.31bn, up from an operating loss of KRW13.92bn in 2022.

The company attributed the surge in sales and return to profitability in 2023 to an increase in the number of overseas customers throughout the year. 

For 2023, the company also posted casino sales of KRW265.16bn (US$207.23m), up 49.8 per cent when compared to the previous year. 

GKL’s casinos received 789,825 players in 2023, including over 360,000 Chinese players. The number of Japanese players was 223,526. The company reported 123,650 VIP players in 2023.

Grand Korea Leisure (GKL) has reported a net income of KRW44.08bn (US$32.8m) for 2023. The figure represents a turnaround from the net loss of KRW22.74bn reported in 2022, mainly due to the Covid-19 pandemic.

GKL also reported aggregate sales were up 51.3 per cent year-on-year to KRW396.69bn while operating income reached KRW51.31bn, up from an operating loss of KRW13.92bn in 2022.

The company attributed the surge in sales and return to profitability in 2023 to an increase in the number of overseas customers throughout the year. 

For 2023, the company also posted casino sales of KRW265.16bn (US$207.23m), up 49.8 per cent when compared to the previous year. 

GKL’s casinos received 789,825 players in 2023, including over 360,000 Chinese players. The number of Japanese players was 223,526. The company reported 123,650 VIP players in 2023.

It had previously outlined plans to enhance efforts in attracting overseas VIP casino customers, including intensified marketing initiatives in Japanese cities such as Tokyo and Osaka, along with expanded efforts in Greater China.

Last October, the casino operator introduced the “Sevenluck+” mobile application, allowing players to access gambling services through blockchain-based authorization.

The South Korean casino operator has returned to profitability in 2023, posting a net income of KRW44.08bn (US$32.8m) for the full year, up 51.3 per cent year-on-year. Grand Korea Leisure…