Grand Korea Leisure, known as GKL, is a South Korean public company that operates casinos under the Seven Luck Casino brand. Headquartered on Samseong ro in the Gangnam district of Seoul, it runs venues that include a Gangnam COEX branch and a Seoul Dragon City branch, and its business areas also include sports teams. Its website is an official government website of the Republic of Korea and links to the Korea Tourism Organization and the Ministry of Culture, Sports and Tourism as related organisations. GKL publishes share price information, earnings materials and regulatory filings through the Financial Supervisory Service disclosure system, along with ESG, ethics and anti corruption disclosures. It runs a social contribution foundation and has tendered for an AI tourism platform app linked to its casinos and for an independent audit of its anti money laundering work.
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Grand Korea Leisure's president put a number on the Osaka threat at the National Assembly this week, then corrected it: about a quarter of its Japanese revenue, or 5% to 10% of the total. An industry study presented the same day put the hit to Korea's foreigner-only casinos far higher.
Yonhap, citing an unnamed source, says Grand Korea Leisure's marketing staff and executives have been meeting customers in Hong Kong, Macau, Singapore and Mongolia without proper legal review, 11 years after Chinese police arrested Korean casino staff for recruiting gamblers. GKL says its staff serve existing customers and recruit no one.
Data obtained by an opposition lawmaker show Kangwon Land's slot machine manufacturing business has run at a loss every year since 2020, while a Philippine sales office that cost about ₩700 million found no new distributors. The losses total about $11.1 million, not the $236 million some English-language reports have carried.
Paradise Co's four foreigner-only casinos took more in the third quarter than in any quarter before it, even though customers bought fewer chips than in the second. Grand Korea Leisure recovered in September, but its quarter was barely ahead of last year's.
Lotte Tour Development drew a record 66,393 casino visitors to Jeju Dream Tower in September and kept the smallest share of their table play in almost three years. Its two listed rivals grew in the same month, and the company is calling it a run of bad luck that October will correct.
Casino revenue fell 11.3% year on year. The drop, which is what customers actually handed over, rose 7.2%. The whole decline is hold, not demand.