Grand Korea Leisure sees a great increase in revenue
The Grand Korea Leisure Co LTD is a famous operator of foreign casinos in South Korea who has reportedly seen a surge in their sales by $13.1 million at the end of the fiscal year which is a mammoth 45.6 percent increase each month. The increase is 20% more in comparison to the closure of last year.
Casino Cards
The main contributor to this was the table games sales which increased by 61% from May 2021. The machine games performed very poorly and were down by 20% in sales from last year.
The Casino has links with the cultural and sports as well as tourism department of Korean tourism organization. They safeguard and regularly update the statistical data about CAsinos. The casinos are a major source of revenue and this is highly sought out in South Korea because of this very reason.
The casino is one of the 3 runs foreign Casinos by the Grand Korea Leisure under the seven luck brand. The other two are in the capital of South Korea, and the other being near the port, Busan.
Despite the fact that the casino in Busan was closed down for 12 weeks from 24th November and the other two were only allowed to open in March of this year where only 20% of the capacity was to be utilized with strict SOP’s being implemented. It meant they decreased their guest to 185 each night against its full capacity of 925 in Seoul and in the Busan the limit was set at 148 versus the daily capacity of 740. This is a remarkable achievement by Seven Luck’s 3 casinos despite so many restrictions under whose pressure many successful casinos have given up.
In May it was reported by the Ministry of Culture, Sports and Tourism of South Korea that the market for gambling fell by 64.5% since last year due to the covid restrictions. Most of the revenue is generated from foreign tourists and the restrictions on travel meant the revenue fell significantly.
The agreement between South Korea and KentuckMinistry of Culture, Sports and Tourism, Massachusetts, Pennsylvania, and Virginia has created a travel bubble that eliminates the need for quarantine and other complications and makes it easy for travelers across the globe. The Seven Luck wants to take advantage of this and is optimistic to see a big surge in their revenue.