ग्रैंड कोरिया लीज़र कंपनी लिमिटेड की पहली तिमाही की वित्तीय स्थिति निराशाजनक रही

In दक्षिण कोरिया और स्थानीय कैसीनो ऑपरेटर ग्रैंड कोरिया लीज़र कंपनी लिमिटेड has reportedly released its first-quarter financial results showing that its loss for the three-month period had increased by over 354% year-on-year to slightly beyond $33.4 million.

According to a report from GGRAsia, the Seoul-headquartered firm recorded a net profit of about $13.1 million for the initial three months of 2020 but subsequent temporary closures associated with the ongoing कोरोनावायरस महामारी saw it finish the year with a fourth-quarter deficit in the region of $29.2 million. स्रोत detailed that Grand Korea Leisure Company Limited is a subsidiary of the Korea Tourism Organization, which is itself affiliated to the Asian nation’s Ministry of Culture, Sports and Tourism, and is responsible for a trio of foreigner-only casinos located inside the मिलेनियम हिल्टन सियोल, इंटरकांटिनेंटल सियोल कोएक्स और लोटे होटल बुसान गुण।

Damaging directives:

ग्रैंड कोरिया लीज़र कंपनी लिमिटेड reportedly suffered earlier this year as its सात भाग्य-branded venue in the southern city of बुसान was shuttered owing to coronavirus-related concerns for a twelve-week period from November 24 while its pair of sister enterprises in सियोल only re-opened from मार्च 15. As such and the company purportedly experienced a decline of 95.3% year-on-year and 64.7% quarter-on-quarter in net first-quarter sales to roughly 4.7 $ मिलियन.

हालिया पुनरुद्धार:

However, Grand Korea Leisure Company Limited reportedly used an official filing last week to express optimism regarding the future and explain that its net casino sales for April had risen by 48.4% year-on-year to almost 7.9 $ मिलियन. This purportedly followed a February in which its gambling operation inside the 650-room लोटे होटल बुसान booked revenues of just $448,000 before company-wide receipts recorded a swell of 1,074% month-on-month in March to top 5.3 $ मिलियन.

Larger lethargy:

GGRAsia used गुरुवार की एक रिपोर्ट to divulge that the casino industry in दक्षिण कोरिया saw its aggregated gaming revenues for 2020 tumble by 64.5% year-on-year to around 926.5 $ मिलियन owing to the upheaval of the coronavirus pandemic. The fall in the nation of nearly 52 million people purportedly coincided with a 71.3% drop in visitations to 1,760,232 and an associated 85.6% decline in the number of foreign tourists entering the country to 2,519,118.

Compatriot crashes:

पैराडाइज कंपनी लिमिटेड, which is responsible for the giant स्वर्ग नगर बंदरगाह शहर के पास एकीकृत कैसीनो रिसॉर्ट इनचान as well as smaller hotel-based operations in सियोल, बुसान और जेजु, reportedly chalked up a decline of 57.3% year-on-year in net 2020 sales to 299.5 $ मिलियन। इसी तरह, कांगवोन भूमि निगमित, which runs the only property in the nation where locals are allowed to gamble alongside foreigners, कांगवॉन लैंड कैसीनो, purportedly experienced an even steeper 70% diminution to 395.8 $ मिलियन.

Source: https://news.worldcasinodirectory.com/disappointing-first-quarter-financials-for-grand-korea-leisure-company-limited-94173