South Korea’s GKL, Lotte Tour experience decline in April sales

Jenny Ortiz May 3, 2024

South Korean foreigner-only gaming operators Grand Korea Leisure Co Ltd (GKL) and Lotte Tour Development recorded a decline in their April sales compared to the previous month. This decline reflects ongoing challenges faced by the industry despite improvements.

GKL sales decline in first four months of 2024

GKL, a subsidiary of the Korea Tourism Organization, experienced a 28.9 percent decrease in net sales in April compared to the same period last year. Table game sales dropped by 21.2 percent month-on-month, while machine game sales remained relatively stable. However, total sales for the first four months of 2024 declined by 17.7 percent compared to the previous year, without a specified reason for the decrease.

Although the casino’s table drop remained steady compared to March, it showed a notable increase of 7.8 percent from April 2023. The cumulative casino drop for the first four months of the year also demonstrated a significant rise of 17.6 percent compared to the same period last year.

Lotte Tour’s sales drop too

Meanwhile, Lotte Tour Development, operator of the Jeju Dream Tower casino resort, reported an 8.1 percent decrease in casino sales in April compared to the previous month. However, sales surged by 104.8 percent compared to April last year. Table game sales decreased by 7.7 percent month-on-month but showed a significant increase of 114.6 percent year-on-year.

Lotte Tour’s casino table drop for April witnessed a notable rise of 5.2 percent compared to March and a significant increase of 32.6 percent year-on-year.

Despite fluctuations in sales and table drops, casino operators in South Korea continue to navigate challenges in the gaming industry. While some indicators show improvement compared to last year, the overall trend highlights the need for sustained efforts to bolster the sector in the face of ongoing uncertainties.

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