Strong November sales were posted by South Korean casino operator, Grand Korea Leisure Co Ltd (114090:Korea SE), the firm announced on Friday.

According to GGRAsia

The Seoul-headquartered firm reported a hike in November sales of 14.5 percent from the same period last year, with casino sales at approximately KRW41.58 billion (US$37.0 million) for the month.

Fifteen percent increase:

Calculated on a month-to-month basis, casino sales for November reportedly increased 15.2 percent compared to October.

A 19.7 percent increase in table game sales for the month of November, to close to KRW36.90 billion, sustained the year-on-year rise in casino sales. Also increasing were machine games sales, which rose by 14.7 percent from the same time last year to approximately KRW4.68 billion, the company said in a recent filing to the Korea Exchange.

Company affiliation:

The Korea Tourism Organization is the parent organization of Grand Korea Leisure Co and is an organization of the Republic of Korea under the Ministry of Culture and Tourism.

The gaming entity operates a trio of foreigner-only casinos in South Korea under the Seven Luck brand: two in the capital of Seoul including Seven Luck Casino Seoul Gangnam and Seven Luck Casino Millennium Seoul Hilton, and one in the southern port city of Busan, Seven Luck Casino Busan Lotte.

Slight increase reported:

GGRAsia reports that according to the firm, for the first 11 months of this year, casino sales experienced a slight increase of 0.4 percent from the same time last year, to approximately KRW446.35 billion.

A more significant increase of 2.8 percent from the same time last year was reported for table games sales for the January to November period to approximately KRW394.18 billion, while in the 11 months to November 30, machine game sales fell some 14.8 percent to nearly KRW52.17 billion.

Significant decline in net income:

Grand Korea Leisure Company’s third-quarter net income reportedly declined by 21.0 percent from the same time last year to nearly KRW26.37 billion.

According to the news outlet, the company did not offer an explanation for the significant increase in its quarterly results.