Landing International said its foreigner-only integrated resort in South Korea generated positive revenue in the second half of the year after it switched its focus to marketing to locals.
For the whole year, revenue was down just 3.4 percent to HK$788 million, while the group posted a loss of HK$2.1 million, little changed from the prior year.
The results are surprising as Jeju has been closed to visitation due to the Covid crisis, while local Koreans are not permitted to gamble. This has lead to steep drops in revenue and mounting losses at casinos on the Korean peninsula.
Landing said its marketing had focused on offering packages to attract families to its water park, hotels and other attractions at Jeju Shinhwa World, the biggest IR on the island.
Futurist and entrepreneur Earle Hall, CEO of AXES reflects on the sixteen predictions made nearly 12 months ago during the AGB Webinar: Life After Covid-19, which looked at how business and personal and work-life would change as a result of the pandemic.
The world is bouncing back, or at least coming to grips with the fact that going forward not much will be the same as before. Commendably, this industry quickly understood the need to adapt to a new normal, and that the days of targeting the low hanging fruit of the VIP sector are gone.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing what 2020 may have had in store.