GKL Sees 42% Profit Surge as Foreign Visitors Lift Casinos
Grand Korea Leisure Co Ltd (GKL), operator of South Korea’s foreigner-only casinos, reported a 42.4% year-on-year rise in net profit for 2025, reaching KRW47.07 billion ($32.1 million). Preliminary figures filed with the Korea Exchange on Wednesday show group sales of KRW422.95 billion, up 6.7% from 2024, while casino revenue grew 8.0% to KRW425.3 billion. Operating income climbed 37.4% to KRW52.64 billion, and pre-tax net income from continuing operations increased 44.5% to KRW63.13 billion, driven largely by returning international patrons.
Strong Revenue Supports Profit Growth
The company attributed the gains to a recovery in its gaming business, particularly as overseas visitors returned to its three Seven Luck casinos two in Seoul and one in Busan. Casino operations saw growth across both table games and slots. Despite monthly fluctuations, the annual trend demonstrated steady improvement, with the operating profit surge reflecting better cost control and stronger revenue performance.
Visitor Numbers Fuel the Upswing
For the first nine months of 2025, GKL reported 788,035 visitors, a 4.9% increase from the prior year. Chinese and Japanese gamblers remained dominant, though other international markets also contributed. Mass-market visitors continued to account for approximately 86% of foot traffic. Annual drop amounts rose 1.5% to KRW3.70 trillion, supported by improved hold rates averaging 11.7% during key periods, highlighting the influence of international guests on overall revenue.
Casino Performance Overview
Seoul Dragon City welcomed 392,698 visitors in Q3 2025, Gangnam COEX 264,223 and Busan Lotte 131,114. Table sales grew 7.5% to KRW385.9 billion, while slot machine revenue increased 13.1% to KRW39.4 billion. GKL operates 174 tables, 354 slots, and 10 ETGs with 145 terminals, optimizing layouts to enhance player engagement. Marketing initiatives boosted both VIP and mass segments, positioning the company well for 2026.
International Tourism Drives Results
The uptick in foreign visitors was the key factor behind GKL’s strong results. Growth from Japan and other markets offset softer demand from China, sustaining improvements in drop and hold metrics. GKL’s ties to government tourism objectives also support promotional efforts, reinforcing its position in South Korea’s foreigner-only casino segment. With robust sales and a 42.4% rise in net profit, GKL enters 2026 poised to benefit from continued international interest.
