Grand Korea Leisure (GKL), which runs casinos for foreigners in South Korea, saw a big profit increase in the third quarter of 2025. The company’s net profit rose 143% year-on-year to KRW 14.67 billion (about USD 10 million), driven by higher casino sales and stable operating expenses.

According to its unaudited financial results filed with the Korea Exchange, GKL’s total group sales increased by 17% to KRW 109.38 billion compared to the same period last year. The company also saw an 8% rise in sales from the previous quarter, showing steady growth momentum despite global economic challenges.

Stable Costs Support Revenue Growth

While the company’s revenue improved, its operating costs remained under control. The cost of sales rose slightly by 6% to KRW 83.33 billion, mainly due to higher spending on promotions, staff wages, and contributions to tourism funds.

GKL operates three foreigner-only casinos under the Seven Luck brand, two in Seoul and one in Busan. It functions as a subsidiary of the Korea Tourism Organization, which owns a 51% stake, while the National Pension Service holds 8.44%.

For the first nine months of 2025, GKL reported a total net profit of KRW 47.73 billion, marking a 73% increase compared to the same period in 2024. Group sales for the same period stood at KRW 320.19 billion, up 10%, while casino net sales grew 11% to KRW 318.7 billion.

Tourism Recovery Boosts Casino Visits

Visitor numbers also rose as South Korea’s tourism sector continued to recover. Between January and September 2025, GKL welcomed 788,035 visitors across its casinos, representing a 5% year-on-year increase.

Chinese travellers made up the largest group with 336,883 visitors, accounting for 43% of the total, though this number fell by 5% compared to the previous year. In contrast, Japanese visitors surged 16% to 277,801, showing renewed travel interest from Japan and helping balance the decline from China.

This rise in visitor numbers, particularly from Japan, highlights South Korea’s improving appeal as a tourism and gaming destination.

Steady Recovery in the Casino Sector

GKL’s performance shows clear signs of recovery in the foreigner-only casino market, which had been affected by travel restrictions and weak tourism in previous years.

In July 2025, GKL’s casino revenue doubled, jumping 103% year-on-year to KRW 38.99 billion (about USD 30 million). The strong result was mainly driven by increased table game activity. Drop volume, which represents total money exchanged for chips, reached KRW 339.2 billion in July, up 12% from June, although the year-to-date total remained slightly below 2024 levels.

With stable costs, rising visitor numbers, and strong table game performance, GKL appears on track to continue its growth into the final quarter of 2025.