Kangwon Land, Korea’s only casino open to the local people, has announced that it will extend its Covid-19 closure yet again, this time until May 4 at 6 am.
Operations at Kangwon Land were originally suspended on February 23, and the period of the closure has been repeatedly extended in line with continuing concerns about the spread of coronavirus infection.
The company’s resort facilities may be reopened in stages, though no precise schedule has yet been provided.
South Korea’s three major operators are likely to come through the economic downturn caused by the Covid-19 pandemic without too much difficulty, but the smaller and weaker operators on the island of Jeju may face a much tougher time, analysts say.
The revenues of local governments in South Korea are being heavily impacted by the long-term suspension of operations at Kangwon Land, triggered by the Covid-19 pandemic, as well as a running dispute over the calculation of how much money the resort is obligated to pay to the abandoned mine fund.
Accusations have been aired in the National Assembly that certain companies are unfairly being given contracts to supply Kangwon Land casino equipment.
Kangwon Land’s degree of commitment to identifying and eliminating problem gambling at its facility has been questioned after it is revealed that only 82 patients have been treated over a five year period, in spite of a significant annual budget for this task.
Kangwon Land has announced it has reopened its casino to visitors, operating at a limited capacity.
Kangwon Land, which has suffered long periods of closure under the impact of the Covid-19 impact, is now estimating that its casino revenues for 2020 will come in at about KRW498 billion (US$430 million), representing a 67 percent fall from the previous year. In 2019, Kangwon Land’s gaming segment represented 88 percent of the firm’s […]
Grand Korea Leisure and Kangwon Land, both of them government operated enterprises, have entered into an agreement on the limited exchange of personnel as part of the government’s strategy to cultivate its human resources. The agreement will launch from a modest level, with only one employee from each organization being dispatched to the other for […]
Kangwon Land outperformed South Korea’s foreigner-only casinos in 2019, with turnover rising 5.8 percent compared with a drop of 10.9 percent for 16 other properties.
Paradise City in Incheon and Kangwon Land in Gangwon Province have separately announced that they are extending closures of their casino business due to the spread of Covid-19 infection in South Korea. Since the beginning of September, a total of six Covid-19 infections have been discovered at Paradise City, complicating the firm’s efforts to reboot […]
A resurgence in the number of new Covid-19 cases in South Korea has convinced state-run operator Kangwon Land to once again suspend its operations as a public health measure. The closure commenced on Sunday at 10 am and will continue for an undetermined period of time. Among the big three casino operators on the Korean […]