Grand Korea Leisure Co Ltd (GKL), a prominent operator of foreigner-only casinos in South Korea, has announced a strategic overhaul aimed at enhancing its competitiveness amid intensifying regional rivalry. The company plans to leverage its expertise in casino operations and information technology by offering these services to emerging gaming markets. This initiative is part of a comprehensive three-pronged strategy designed to revitalize GKL’s business model.
The specific markets targeted for these services were not disclosed by GKL. However, the company did note that South Korea’s casino industry is expected to face significant competition from upcoming casino developments in Japan and potentially Thailand.
On Friday, GKL, listed on the Korea Exchange (114090.KS), launched what it has termed a new “business task force.” This task force will concentrate on three key areas: expanding casino operations internationally, digitalizing casino business processes, and advancing tourism industry education.
A statement from GKL, quoted by GGRAsia, outlined that the task force will be co-chaired by the company’s CEO, Kim Young-San, and the head of its workforce union, along with 11 other GKL officials.
The statement emphasized that the goal of the “casino business expansion aimed at overseas” initiative is to export GKL’s “superior” manpower, proprietary casino IT technology, and consulting services related to casino operations.
During an event to inaugurate the task force, CEO Kim Young-San remarked, “With Japan and [possibly] Thailand entering the Asian casino business, we expect heightening competition, and inbound tourists to South Korea changing their consumption patterns… consequently, we must prepare for the future.”
In alignment with this strategic shift, GKL announced in April that it would intensify its consumer marketing efforts in Japan during the latter half of this year.
A Powerful Brand In The Region
GKL operates a trio of foreigner-only casinos under the Seven Luck brand: two are located in Seoul, the capital city, and one is situated in Busan, a major port city in the south. This strategic positioning has enabled GKL to capture a significant share of the tourism market, particularly among international visitors.
The establishment of the task force and its initiatives reflect GKL’s proactive approach to staying ahead in a highly competitive market. By exporting its expertise and technology, GKL aims to not only generate additional revenue streams but also to reinforce its position as a leader in the casino industry.
The move to digitalize casino operations is expected to streamline processes, enhance customer experience, and improve operational efficiency. Meanwhile, the focus on tourism industry education underscores GKL’s commitment to contributing to the broader tourism ecosystem in South Korea.
As the regional casino landscape evolves, GKL’s strategic initiatives are likely to play a crucial role in maintaining its competitive edge. By leveraging its core strengths and adapting to new market dynamics, GKL aims to secure its position as a premier operator in the Asian gaming industry.
