Grand Korea Leisure Co. Ltd (GKL) has delivered an exceptional performance for the second quarter of 2025, posting a net profit of KRW 16.96 billion (US$12.3 million), which marks an impressive 49.7% year-on-year increase. The surge in profits is driven primarily by a solid performance in its foreigner-only casinos, particularly its flagship Gangnam Coex location in Seoul.

The company, which operates three casinos exclusively for foreign visitors under the Seven Luck brand, reported total revenue for the quarter at KRW 100.94 billion (US$71.4 million), showing a modest 2.1% year-on-year increase. However, this was offset by an 8.1% drop in sales from the previous quarter. Despite the sequential dip in overall revenue, GKL’s operating profit of KRW 15.96 billion (US$11.3 million) represents a strong 20.8% growth compared to Q2 2024, although it showed a decrease of 20.9% from the first quarter of 2025.

Remarkable Performance at GKL’s Flagship Location

The solid increase in net profit was buoyed by the strong performance of GKL’s premier venue, the Gangnam Coex casino in Seoul. Although the casino saw a 13.3% drop in its drop volume to KRW 450.8 billion (US$318.9 million), the venue achieved a significant 79.6% increase in net casino sales, amounting to KRW 64.3 billion (US$45.5 million). This surge is largely attributed to increased gaming activity, with table games seeing particularly high demand.

Despite a downturn in VIP visitor numbers in recent years and rising competition from neighboring gaming markets, GKL’s gaming revenue has seen a turnaround, supported by effective marketing strategies and a boost in player activity. The company’s table games revenue alone rose by 113.4%, contributing heavily to the overall growth in casino earnings.

Strong Year-to-Date Growth and Interim Dividend

Looking at the first half of 2025, GKL’s net profit reached KRW 33.06 billion (US$23.4 million), a robust 53.6% increase compared to the same period in 2024. The company’s sales for the first six months of the year totaled KRW 210.81 billion (US$149.1 million), reflecting a 7.1% year-on-year increase. Encouragingly, GKL’s revenue from casino operations surpassed KRW 209.86 billion (US$149.3 million), marking a 9.0% year-on-year increase.

As a result of its strong financial performance, GKL announced an interim dividend of KRW 60 (US$0.045) per share, totaling over KRW 3.71 billion (US$2.6 million). Shareholders are set to receive the dividend on September 5, 2025, reflecting the company’s commitment to sharing its success with investors.

Continued Growth in July and Outlook for the Year

In July 2025, GKL’s casino revenue showed a remarkable recovery, more than doubling from the previous year. The company reported KRW 39.0 billion (US$28.1 million) in revenue, a 102.8% increase from the same period in 2024. This performance was driven by a significant rise in both table games and machine game revenue, which saw respective increases of 11.9% and 13.6% compared to the previous month.

As reported by Yonhap News Agency, the strong performance in July is indicative of an overall upward trend in the casino sector, with GKL’s cumulative casino revenue for the first seven months of 2025 reaching KRW 248.9 billion (US$179 million), a 17.5% increase over the same period in 2024. Despite this progress, competition from other regional gaming hubs remains a challenge, and operators are focusing on sustaining premium player activity in the latter half of the year.

GKL’s success over the last quarter underscores its ability to thrive in a competitive market and demonstrates the resilience of South Korea’s foreigner-only casino sector.