South Korean casinos that are open solely to foreigners are still profitable despite the area experiencing a slowdown due to COVID-19. Grand Korea Leisure (GKL) stated in its most recent financial report, which was made public last Friday, that sales for February were slightly over KRW 36.77 billion (US$28.3 million). This was up 14.6% from the prior month and a whopping 437.2% from the year before. Table games had the highest increase, bringing in KRW 34.32 billion (US$26.44 million), or over 525% more than they did a year prior. Gaming machines made KRW2.46 billion ($1.88 million), which is 81.7% higher than they did in January of last year but 18.6% less than they earned in February.
Table drops totaled KRW209.57 billion ($161.45 million) in GOD's three Seven Luck casinos in South Korea, two in Seoul and one in Busan. This was a 23.1% decrease from the prior month but a rise of 153.3% over the prior year. The first two months of 2022 followed an upward trend that persisted throughout the majority of the year. GKL generated KRW 265.17 billion (US$204.28 million) in revenue last year, an increase of 196% from the year before. At the same time, it experienced a net loss of KRW22.74 billion (US$17.52 million). The deficit of KRW113.2 billion (US$87.21 million) in 2021 was still a lot better than that. The final three months of 2022 saw significant advancements for GKL. In comparison to the same period last year, it made 24.6% more money in the third quarter and 330% more in the fourth. Paradise Co. is improving Paradise Co. and its four casinos in South Korea lost money in February compared to January. Yet, it outperformed its result from the previous year. Casinos generated KRW 44.7 billion, or nearly $34.5 million, in February. They made 7.2% less in January than they did now. This was a 163% increase over February 2021. However the decline in slot machines and table games was to blame for the decline. The table fell in February, which was the primary cause of the decline. At KRW 362.4 billion (US$280 million), it decreased by 23.9% from the previous month. Gaming tables lost 33.2% of their value in February, falling from KRW 42.3 billion (US$32.6 million) to KRW2.36 billion (US$1.8 million), a loss of 5.1%. The new year delivers more overall success when you consider the larger picture. KRW 92.8 billion, or around $71.6 million, was made in the first two months as a whole. The rise from January to February 2022 is 164%. We must assist Shinhwa World. Although Shin Hwa World Ltd., formerly known as Landing International Development until the end of last year, is still encountering difficulties, it is making progress. The corporation in charge of the Jeju Shinhwa World resort on the island of Jeju said that losses increased in 2021, but declined in 2022. In an update last week, the Hong Kong-based business said that it would have a consolidated net loss for the year. Even though it's currently losing money, it indicated that by 2021 it expects to make 65-85% more money, even if the maths is still being done. That year, it had a total loss of HKD1.06 billion (US$134.9 million). Half of the HKD2.12 billion (US$270.08 million) from 2021 was spent in that year. At the end of this month, Shin Hwa intends to make the final findings for 2022 publice Read More:Today Latest News
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