Grand Korea Leisure Sees December Casinos Revenue Dip Amid 2025 Recovery

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The December financials from Grand Korea Leisure Co., Ltd. (GKL) capped a mixed 2025 for the state-linked operator as casino revenue dipped to KRW36.30 billion (about US$25.1 million), down 6.4% year-on-year as reported in an updated file to the Korea Exchange this week.

Infograph of GKL's Casino Revenue Dip in December
Info-graph of GKL’s Casino Revenue Dip in December

Key Takeaways:

  • December revenue declined 6.4% year-on-year despite steady foot traffic
  • Table games underperformed, driving overall decline
  • 2025 remains an overall recovery year with positive quarterly rebounds and margin discipline

Although foot traffic remained steady across its three Seven Luck properties, GKL converted less of that visitation into revenue during the traditionally peak months of November and December.

Casino Revenue Dips with Table Game Softness

According to GGRAsia, detail points to table games as the primary weakness: table games revenue slid to KRW33.07 billion, down 7.4% year-on-year and 13.8% month-on-month, while machine game receipts edged up 5.6% year-on-year to KRW3.23 billion but fell sequentially. 

At the same time the aggregate casino drop rose to KRW330.37 billion, a 19.8% year-on-year increase, implying a lower hold rate dented sales despite higher wagering. 

This cycle reflects higher visitation and improved hold rates earlier in the year as reported by Inside Asian Gaming, underscoring the volatility of hold versus volume.

The contrast is notable against recent performance elsewhere in the Korean market, with Jeju Dream Tower reporting a 62% surge in casino revenue driven largely by table games. 

December Momentum Falls Short

For the full year, GKL recorded aggregate casino sales of just over KRW425.3 billion, an 8% gain on 2024, with the Gangnam property contributing nearly KRW205.61 billion and Seoul Dragon City and Busan Lotte trailing. 

December’s casino revenue dip is a short-term revenue shock within an otherwise recovery-themed 2025 that included strong quarterly profit rebounds and margin discipline.

GKL, a subsidiary of the Korea Tourism Organization, operates three foreigner-only Seven Luck casinos in Seoul and Busan.