Grand Korea Leisure (A114090) Q1 2026 earnings summary

Executive summary

• Operates three foreigner-only casinos in Seoul and Busan, with 24/7 operations and a focus on attracting Asian tourists, especially from Japan and Greater China.

• Casino revenue constitutes 99% of total sales, with a diversified marketing strategy targeting VIP and mass customers.

• The company is a public enterprise with stable operations, but faces risks from regulatory changes and market competition.

Financial highlights

• Q1 2026 consolidated revenue was KRW 110.7 billion, up 1% year-over-year.

• Operating income for Q1 2026 was KRW 18.1 billion, down 10% year-over-year.

• Net income for Q1 2026 was KRW 15.1 billion, down 6% year-over-year.

• Total assets at March 2026 were KRW 641.3 billion, a 2% decrease from the previous year.

• Basic earnings per share for Q1 2026 was KRW 244.

Outlook and guidance

• The domestic foreigner-only casino market continues to recover post-pandemic, with Q1 2026 market sales up 3% year-over-year.

• The company expects continued growth driven by increased inbound tourism and digital marketing initiatives.