Revenue fell 62.4% year-on-year to 184.46 billion won from 490.75 billion won in 2020.
The group's profit in the last quarter of 2020 turned negative by nearly 32.71 billion won, compared with a profit of 18.31 billion won in the last three months of 2019.
Q3 profit was also negative, but the sequential change fell 43.6% to 22.78 billion won.
Grand Korea Leisure's fourth-quarter sales fell 88.6% year-on-year to 14.94 billion won, or 13.85 billion won in the same period in 2019. Sales in the last quarter of 2020 were down 57.0% compared to 34.76 billion won in the third quarter.
The Grand Korea Leisure Gangnam COEX game center and Gangbuk Hilton in Seoul, which are operated under the Seven Luck brand, have been temporarily closed since November 24 and the group Busan Lotte has been temporarily closed since December 1 to respond to COVID-19.
On Feb. 1, Grand Korea extended the closure of these sites until Feb. 15. The company closed its casinos for 43 days from Mar. 24 last year amid the threat of the pandemic.
GKL is a subsidiary of the Korea Tourism Organization and is affiliated with the Ministry of Culture, Sports and Tourism in Korea.
BY: 카지노
