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Korean gaming stocks hammered by Covid-19

South Korea’s gaming companies have all seen their stock prices hammered by the Covid-19 crisis, though with varying intensity.

Paradise Co. was one of Monday’s biggest losers on the Kosdaq Stock Market, losing 7.8 percent of its value in a single day. Since the beginning of the year it has fallen from 20,150 to 15,350, a 23.8 percent decrease.

Kangwon Land, which has been forced to suspend operations due to the spread of the coronavirus, has seen its Kosdaq stock fall from 29,250 at the start of the year to 23,650 on Monday, a 19.1 percent decline. The company is, of course, anticipating heavy losses over the extended closure.

Grand Korea Leisure, on the Korea Exchange, hasn’t escaped either, falling from 19,450 at the beginning of the year to 16,750 on Monday, a 13.9 percent decline. This company is more protected as a subsidiary of the Korea Tourism Organization.

As of Monday evening, South Korea had reported 7,382 confirmed Covid-19 cases.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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