Grand Korea Leisure’s sales slump continues

It would seem that the gambling industry only has so much wealth to spread around in South Korea. Grand Korea Leisure Ltd (GKL) has reported a year over year decline of 12.7% in February, GGRAsia reports.

In total, the company had casino sales of KRW31.82 billion (US$28.1 million). That number also represented an 8.3% decrease when compared to January. The biggest culprit for the decline was a 14.2% decrease in table game sales, but machine game sales also fell by 3.1%.

This isn’t just a bad for GKL, it’s a blow for Korea. The operator, who runs three foreigner-only casinos in the country, is part of the Korea Tourism Organization, a body with close ties to South Korea’s Ministry of Culture, Sports and Tourism.

Even though this was a decrease from January, February wasn’t much better. Overall, 2019 income is down 18.8% year over year, again largely due to table games, which is down 20.9% year over year.