Grand Korea Leisure (GKL) reported casino revenue of KRW37.28bn ($26.6m) for September 2026, up 7.2% from KRW34.78bn a year earlier. Revenue also increased 19.8% from KRW31.11bn in August.
Table games accounted for KRW34.01bn of the total, representing an 8.4% year-on-year increase and a 22.3% rise from August. Machine revenue fell 4.5% year-on-year and 1% month-on-month to KRW3.27bn.
Casino drop reached KRW323.72bn in September, up 2.4% from the previous year but 5.2% lower than August's KRW341.40bn.
For the first nine months of 2026, GKL generated KRW337.24bn in casino revenue, up 5.8% year-on-year. Table revenue increased 5.5% to KRW305.27bn, while machine revenue grew 8.7% to KRW31.97bn.
Grand Korea Leisure September (KRW M)
Separately, KB Securities recently raised concerns about GKL's longer-term growth prospects and called for the operator to reinvest in its casino assets. Analyst Choi Yong-hyun identified the Seven Luck Gangnam COEX casino as a priority for upgrades, particularly as regional competition is expected to increase.
The brokerage pointed to the planned opening of an integrated resort in Osaka in 2030. GKL has renewed its COEX lease through October 2035, with KRW168.8bn in lease payments committed over the contract period.
KB Securities also questioned how GKL will deploy its approximately KRW380bn in net cash. It lowered its target price from KRW13,000 to KRW10,000 while maintaining a Hold rating.
The brokerage forecasts third-quarter operating profit of KRW15.4bn, down 11.3% year-on-year, with higher labor costs expected to weigh on margins.
KB Securities recently called for greater investment in GKL's casino assets
