Grand Korea Leisure (GKL) reported casino sales of KRW29.28bn for October 2026, an increase of 2.5% from KRW28.56bn in the same month last year, although revenue declined sharply from September.
October casino sales were 21.5% below the KRW37.28bn recorded in September, when GKL reported a 7.2% year-over-year increase.
Table gaming remained the largest contributor, generating KRW26.09bn during October. The figure increased 3.7% from KRW25.15bn a year earlier but fell 23.3% from September's KRW34.01bn.
Machine gaming revenue reached KRW3.20bn, down 6.3% year over year from KRW3.41bn and 2.2% lower than the previous month.
Despite the sequential decline, GKL remained ahead of its 2025 performance on a year-to-date basis. Casino sales for the first 10 months reached KRW366.52bn, representing growth of 5.5% from KRW347.28bn during the corresponding period last year.
Cumulative table revenue increased 5.4% to KRW331.35bn, while machine gaming sales rose 7.1% to KRW35.17bn.
Casino drop, representing the amount customers exchanged for gaming chips, reached KRW336.38bn in October. This was 3.9% higher than September and 1.8% above the same month of 2025. Cumulative drop increased 8.7% to KRW3.31trn for January through October, compared with KRW3.05trn a year earlier.
The October figures are preliminary and may change when final data becomes available.
GKL revenue (KRW bn)
GKL faces pressure to reinvest in casino assets
The latest performance comes as GKL faces questions over its longer-term investment strategy. In early October, KB Securities called for the operator to reinvest in its casino assets, identifying the Seven Luck Gangnam COEX casino as a priority for upgrades amid increasing regional competition.
The brokerage pointed to the integrated resort scheduled to open in Osaka in 2030 as one reason for GKL to strengthen its competitive position. It also noted uncertainty over how the operator will deploy its approximately KRW380bn in net cash.
GKL has renewed the lease for its COEX property through October 2035, committing KRW168.8bn in lease payments over the contract term. The extension could also result in additional refurbishment and rental costs.
KB Securities previously lowered its target price for GKL from KRW13,000 to KRW10,000 while retaining its Hold rating. It forecast third-quarter operating profit of KRW15.4bn, down 11.3% year over year, citing a lower hold rate and higher labor costs despite expected growth in casino drop.
GKL is scheduled to disclose its final results for the nine months ended September 30 on November 10, with the figures subject to external audit.
GKL will disclose its final third-quarter results on November 10
