Grand Korea Leisure (GKL) reports significant revenue growth in March 2025, with casino earnings reaching KRW41.4 billion ($28.2 million), signaling a positive trend in South Korea’s foreigner-only casino sector.
Key Takeaways:
- GKL’s March 2025 revenue increased 27.7% month-on-month and 2.6% year-on-year
- Q1 2025 cumulative casino revenue totaled KRW108.2 billion, up 15.6% from Q1 2024
- Positive results mirror broader recovery in South Korea’s foreigner-only casino market
March 2025 Performance
GKL, a South Korean casino operator catering exclusively to international visitors, has reported a substantial uptick in revenue for March 2025. The company’s casino earnings reached KRW41.4 billion ($28.2 million), marking a 27.7% increase from February and a 2.6% growth compared to March 2024.
The revenue boost was evident across GKL’s gaming segments. Table games generated KRW38.4 billion ($26.2 million), a 28.2% increase from the previous month. Slot machine revenue also saw growth, climbing 22% to KRW3 billion ($2.04 million). These improvements were driven by a 14.5% month-on-month rise in total drop amount, which reached KRW299 billion ($204 million).
Q1 2025 Results
The first quarter of 2025 has proven particularly strong for GKL. Cumulative casino revenue for January through March totaled KRW108.2 billion ($73.8 million), representing a 15.6% improvement over Q1 2024. However, the company’s table drop for the quarter stood at KRW826.9 billion ($564 million), reflecting a 9.7% year-on-year decline.
Industry-wide Recovery
March has emerged as GKL’s strongest month of 2025 thus far, mirroring positive results seen across South Korea’s foreigner-only casino sector. Competitors Paradise Co and Lotte Tour have also reported substantial revenue increases during the same period, suggesting a broader recovery in the market.
GKL maintains its presence in the Korean gaming landscape through three casino properties operated under the Seven Luck brand, with locations in Seoul and Busan. These venues cater exclusively to international visitors, aligning with South Korea’s regulations for foreigner-only casinos.
The recent performance of GKL and its competitors indicates a potential resurgence in South Korea’s casino industry, particularly in the foreigner-only segment. This trend may signal increased confidence among international travelers and a gradual return to pre-pandemic visitation levels.
