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Market · South Korea · Wed 11 Nov · 3 min read · By Roland Cinco

GKL net income falls 52.6 percent as costs rise

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What happened

South Korean foreigner-only casino operator Grand Korea Leisure reported third-quarter net income of KRW6.95 billion, down 52.6 percent year-on-year and 61.4 percent sequentially.

Preliminary results filed with the Korea Exchange on 10 November 2026 showed consolidated sales of just over KRW109.67 billion, up 0.3 percent year-on-year but down 8.9 percent sequentially.

Operating income for the three months to 30 September fell 44.4 percent year-on-year to KRW9.62 billion, a decline of 53.8 percent from the preceding quarter.

The operating margin narrowed to 8.8 percent, compared with 15.8 percent a year earlier and 17.3 percent in the second quarter.

Cost of sales increased 8.0 percent year-on-year to KRW89.96 billion, with higher spending on wages, employee benefits and sales promotion, according to the announcement.

Selling, general and administrative expenses increased 15.5 percent to KRW10.09 billion, while finance costs rose to KRW2.99 billion from KRW285 million a year earlier.

Third-quarter casino sales fell 1.4 percent year-on-year to KRW134.64 billion and declined 10.9 percent sequentially; consolidated sales reflect deductions and include foreign-exchange income.

Why it matters

Sources: GGRAsia

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