South Korea's foreigner-only casino operator Grand Korea Leisure reported weaker gaming results in December, extending a volatile close to 2025 despite growth at the full-year level.
According to a filing submitted to the Korea Exchange on December 28, total casino sales for the month reached KRW 36.30bn ($25.1m), representing a 6.4% year-on-year decline and a sharper 13.0% decrease compared with November.
December is typically one of the busiest periods for casino operators, making the sequential slowdown notable.
The monthly decline was primarily driven by table games. Table revenue fell to KRW 33.07bn, down 7.4% and 13.8% month-on-month, indicating weaker conversion of visitor traffic into table play during peak season.
In contrast, machine gaming provided limited support. Slot machines and electronic games generated KRW 3.23bn, up 5.6% but down 4.1% from November, underscoring uneven spending patterns among foreign patrons.
Despite softer revenue, underlying gaming activity showed resilience. Aggregate casino drop across GKL's three properties reached KRW 330.37bn in December, up 19.8% and 1.0% higher than November.
The divergence between rising drop and falling revenue suggests a lower hold rate during the month, temporarily weighing on reported sales.
For the full year, GKL recorded casino sales of KRW 425.3bn ($294m), an 8% increase. Table games contributed KRW 385.9bn, up 7.5%, while machine revenue rose 13.1% to KRW 39.4bn.
Total gaming drop for 2025 increased 1.5% to KRW 3.70tn, indicating steady but modest expansion in play volumes.
Property-level results showed the Seoul Gangnam casino as the largest contributor, generating KRW 205.61bn in annual sales. Seoul Dragon City followed with KRW 150.67bn, while the Busan Lotte casino reported KRW 69.05bn for the year.
In October 2025, Grand Korea Leisure reported casino sales declined 6.5% to KRW 28.56bn, despite a 5.5% increase in gaming drop and a 24.8% rise in machine revenue.
The result highlighted similar pressures on table game performance seen again in December, amid broader market adjustments across South Korea's foreigner-only casino sector.
Grand Korea Leisure operates three foreigner-only casinos under the Seven Luck brand, two in Seoul and one in Busan. The company is a subsidiary of the Korea Tourism Organization, which is affiliated with the Ministry of Culture, Sports and Tourism
