Grand Korea Leisure Co., Ltd. (GKL), a South Korean operator of foreigner-exclusive casinos, saw a significant boost in its March revenue, with total casino sales reaching approximately KRW41.45 billion (US$28.3 million). This marks a 27.7% increase from February and a 2.6% rise year-over-year, according to a filing with the Korea Exchange.

A detailed breakdown of the revenue shows that table games were the primary driver of this growth, accounting for KRW38.45 billion (US$26.2 million), as GGRAsia pointed out. This figure represents a 28.2% sequential increase and a 3.0% gain compared to March 2024. Meanwhile, slot machine revenue totaled KRW3.00 billion (US$2.04 million), reflecting a 22.0% increase from the previous month. However, slot revenue was down 1.9% compared to the same period last year.

Q1 2025 Performance Highlights

For the first quarter of 2025, GKL reported cumulative casino sales of KRW108.25 billion (US$73.8 million), marking a 15.6% increase year-over-year. Despite the strong revenue growth, the company’s table drop—the total amount exchanged for gaming chips—saw a 9.7% decline from the previous year, standing at approximately KRW826.86 billion (US$564 million).

March proved to be the most successful month for GKL so far in 2025, aligning with an upward trend also seen by other South Korean foreigner-only casino operators such as Paradise Co. and Lotte Tour.

GKL’s Market Position and Future Prospects

Grand Korea Leisure operates three casinos under the Seven Luck brand, with two located in Seoul, including one in the Gangnam district, and a third in the port city of Busan. These establishments offer a variety of gaming options, including table games such as baccarat, blackjack, roulette, tai sai, poker, casino war, big wheels, and Texas hold ’em, as well as machine games like slot and video machines.

Established on September 6, 2005, the company is a subsidiary of the Korea Tourism Organization, which is affiliated with South Korea’s Ministry of Culture, Sports, and Tourism. Headquartered at 610 Samseong-ro, Gangnam-gu, Seoul, GKL employs approximately 1,750 individuals. The company’s leadership includes Co-Chief Executive Officers and Presidents Tae Yoo and Young Kim, who oversee its strategic direction and operations. ​

Although recent financial reports suggested weaker earnings, deeper analysis indicates that the company’s underlying financial health remains strong. Notably, GKL’s free cash flow for the 2024 fiscal year significantly outpaced its reported profits, with KRW66 billion in free cash flow compared to KRW33.1 billion in statutory profit. While a decline in free cash flow from the prior year is a concern, the overall financial foundation remains solid.

Additionally, in late February, GKL introduced a self-developed card game, BROG, at one of its gaming floors, signaling continued innovation and expansion in its offerings. With strong cash flow backing its operations and an encouraging revenue trajectory, GKL remains a key player in South Korea’s foreigner-only casino market, poised for further growth in the coming months.