Powerful November earnings were posted by South Korean casino operator, Grand Korea Leisure Co Ltd (114090:Korea SE), the company announced on Friday.
The Seoul-based firm reported a hike in November sales of 14.5 percent in precisely the exact same period last year, with casino earnings at approximately KRW41.58 billion (US$37.0 million) for the month.
Fifteen percent increase:
Calculated to a month-to-month foundation, casino earnings for November allegedly increased 15.2 percent compared to October.
A 19.7 percent increase in table game earnings for the month of November, to close to KRW36.90 billion, sustained the year-on-year growth in casino sales. Also increasing were system games earnings, which increased by 14.7 percent in precisely the exact same period last year to approximately KRW4.68 billion, the business stated in a recent filing to the Korea Exchange.
The gaming entity operates a trio of all foreigner-only casinos in South Korea under the Luck brand: 2 at the capital of Seoul including Seven Luck Casino Seoul Gangnam and Seven Luck Casino Millennium Seoul Hilton, and one at the southern port city of Busan, Seven Luck Casino Busan Lotte.
Slight increase reported:
GGRAsia accounts that according to the company, for the first 11 months of this year, casino earnings experienced a small increase of 0.4 percent in precisely the exact same period last year, to roughly KRW446.35 billion.
A more substantial increase of 2.8 percent in precisely the exact same time last year has been reported for table games earnings for the January to November period to roughly KRW394.18 billion, while at the 11 months to November 30, machine game earnings dropped some 14.8 percent to nearly KRW52.17 billion.
Significant decrease in net income:
Grand Korea Leisure Company’s third-quarter net income allegedly diminished by 21.0 percent in precisely the exact same period last year to nearly KRW26.37 billion.
According to the information outlet, the firm did not give an explanation for the substantial increase in its quarterly results.