Grand Korea Leisure (114090) Q3 2026 earnings summary

Executive summary

• 9M revenue rose 6% YoY to KRW 340.8bn, while operating income fell 9% to KRW 48.6bn and net income fell 16% to KRW 40.1bn.

• Results reflect a single foreigner-only casino business across three locations; table games provide most revenue, with slot machines and currency exchange as smaller streams.

Financial highlights

• 9M consolidated revenue was KRW 340.777bn vs KRW 320.188bn; operating income was KRW 48.606bn vs KRW 53.445bn; net income was KRW 40.060bn vs KRW 47.732bn.

• Q3 revenue was KRW 109.674bn vs KRW 109.383bn; operating income was KRW 9.623bn vs KRW 17.315bn; net income was KRW 6.952bn vs KRW 14.669bn.

• 9M gross profit was KRW 73.565bn vs KRW 75.742bn; basic EPS was KRW 648 vs KRW 772.

• Total assets were KRW 751.819bn at Sep. 30, 2026, vs KRW 651.270bn at Dec. 31, 2025; cash and equivalents were KRW 198.312bn vs KRW 213.093bn.

Outlook and guidance

• Marketing priorities include expanding customer development in Japan and Greater China, diversifying toward the Americas and Southeast Asia, and growing mass-market visits through digital tools and joint tourism marketing.

• Domestic foreigner-only casino revenue continued to grow YoY in Q3 2026; management cites tourism recovery and ongoing market expansion as supportive industry conditions.