GKL posts 22.9 percent rise in net income in 16Q3

South Korean casino operator Grand Korea Leisure posted strong results for the third quarter of 2016, according to a filing to the Korea Exchange.

The foreigner-only casino, which owns Seven Luck Casino, posted a 22.9 percent rise in net income in the third quarter of 2016, at KRW 27.8 billion ($24.3 million).

Revenue for the quarter was up 20.5 percent year-on-year to KRW 134 billion.

“GKL reported strong visitor traffic from Japan and China, but higher labour and compliment costs,” said Daiwa Securities in a note on Friday.

The casino company’s operating income in the quarter rose 30.4 percent year-on-year, to KRW 34.5 billion.

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