n the three months ending March 31, GKL says revenue rose 6.9% to KRW 149b (US $137m) but profit slipped to KRW 32.2b due to increased non-operating costs. GKL operates three foreigners-only casinos; two in Seoul and one in Busan. The Korean Casino
Association says GKL’s share of the country’s casino market was 41.4% in Q1.
GKL’s cost of recruiting and retaining gamblers rose 22% but Daiwa Securities analysts say GKL’s ranks of VIP gamblers rose 34.1% in Q1. Mass market gambling visitors from China were up 45% year-on-year while Japanese mass market numbers were up 11%. Chinese gamblers accounted for 41% of total visits and 57% of table game turnover.