Thursday, June 30, 2022

Kangwon Land to reopen Weds, expects KRW11 billion loss


Kangwon Land has extended its closure to Wednesday, Feb 26, as part of the government’s efforts to combat the spread of the coronavirus. 

On Sunday, the locals-permitted casino announced it would shut its doors for 24 hours. 

However, in a filing to the Korean Stock Exchange on Monday, the casino operator said it would close until 6 am on Wednesday as part of the government’s efforts to respond to the spread of the deadly coronavirus. 

Kangwon Land said the temporary casino closure is expected to account for losses amounting to approximately KRW11 billion (US$9 million). 

Earlier this week, analysts from JP Morgan said they further closures in the gambling sector are possible, in a similar tune to that of Macau earlier this month.  

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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