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 its business after the closures earlier in the year.
On the 4th, the company announced that its hotel facilities would be closed until September 9 and its foreigner-only casino, where two of the infected employees worked, will be closed for an indefinite period.
“This decision is a preemptive measure for the safety of customers, employees, and local residents. We plan to close our business sites and to expand the scope of inspections in consultation with the quarantine authorities,” a company executive explained.
Meanwhile, Kangwon Land has indicated that it is extending its own Covid-19 related casino closure until September 21.
The latest closure commenced on August 23, and it followed a long closure between February 23 and July 20. Among South Korea’s large casino operators, Kangwon Land has spent the most time closed this year due to Covid-19. It has the only casino in the nation open to South Korean nationals.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
Analysts have turned more upbeat about the prospects for Malaysia’s gambling operators, despite a recent upswing in new Covid-19 cases, saying the sector is good value as stocks are still down between 15 to 26 percent on the prior year.
Frederic Jean-Marie Winckler, executive vice president and chief creative and brand officer of Melco Resorts & Entertainment, talks with Michael Penn, executive editor of AGB Nippon, about the future of the luxury market in Macau and beyond. Among the topics addressed are the growing importance of digitization and the direction of luxury trends within the premium mass segment.
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.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.