Operating Profit of 11 Billion KRW... Four Consecutive Quarters of Profit
Sales of 100.2 Billion KRW... 108.5% Increase YoY
Grand Korea Leisure (GKL) continued its profit trend in the second quarter as the number of casino visitors significantly increased following the transition to the endemic phase (periodic outbreak of infectious diseases).
GKL announced on the 8th that its consolidated operating profit for the second quarter of this year was 11 billion KRW, turning profitable compared to an operating loss of 10.7 billion KRW in the same period last year. Sales increased by 108.5% year-on-year to 100.2 billion KRW, and net profit turned positive at 8.6 billion KRW.
The operating profit for the first half of this year was 38.2 billion KRW, marking a turnaround to profit compared to the same period last year. Sales rose by 120.6% to 29.4 billion KRW compared to last year. Previously, GKL also turned profitable in the first quarter with an operating profit of 27.2 billion KRW, achieving four consecutive quarters of profit following the third and fourth quarters of last year.
GKL's total drop amount (total chip purchase amount) for the first half of this year was 1.5898 trillion KRW, an increase of 135.4% compared to the previous year. During this period, the number of visitors was recorded at 323,918, up 98.4% from last year.
A GKL official stated, "In the second half of the year, we plan to strengthen overseas VIP marketing activities in Japan and expand marketing regions to Southeast Asia, Taiwan, and Mongolia."
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