Net income of Grand Korea Leisure Co Ltd. (GKL), the country’s second largest foreigners-only casino operator, jumped 38.1 percent in the second quarter of 2016.

In a filing to the Korea Exchange, GKL posted a net income of KRW 25.60 billion (US$23.1 million) while revenue for the period grew by 5.4 percent to KRW128.95 billion (US$116.61 million) from the prior-year period. GKL also rebounded from its lackluster performance in the first quarter of the year.

Benefiting from a low-base comparison from a year earlier, the Korea Tourism Organization subsidiary saw its operating income for the April-June period increase by 44.8 percent at KRW31.39 billion (US$28.39 million).

Daiwa Securities Group Inc. Analyst Thomas Kwon pointed out that the infectious Middle East Respiratory Syndrome disease (MERS) has greatly affected the tourism industry of South Korea –including the performance of South Korean casinos – in the summer of 2015.