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Grand Korea Leisure sales drop 18 percent in 15Q3

Grand Korea Leisure reported an 18 percent decline in year-on-year sales in 15Q3 to KRW111.27 billion ($96.2 million) and a 9.1 percent drop from the previous quarter.

The company’s net income saw a big drop of 41.5 percent from the previous year’s period to KRW22.57 billion, though was up 21.8 percent on the previous quarter this year when net income amounted to KRW18.53 billion.

GKL, which operates three foreigners-only casinos in the country, reported operating income in the three month period of KRW26.47 billion down 32.5 percent from the prior-year period.

In a previous filing the company announced its casinos received more than one million visitors for the first eight months of the year.

With the government declaring the official end to the MERS outbreak at the end of July, the number of visitors had gone up to 3,500 on average a day in August.

As of August 26, the cumulative number of its visitors stood at 1,002,315, up nearly 12 percent year-on-year. Customers spent approximately 300,000 won ($249) on average per day.


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