All of South Korea’s major casino firms have now announced suspensions of operations as a measure to combat the spread of Covid-19.
State-run casino operator Grand Korea Leisure, which operates three foreigner-only casinos in Seoul and Busan, has stated that it will close its facilities from this Tuesday until April 6.
Paradise Co. also revealed that it will suspend its four casinos in Seoul, Incheon, Jeju, and Busan for two weeks as well.
Kangwon Land, which closed its doors on February 23, has announced yet another extension of the closure of its facilities, also until April 6.
Meanwhile, the Korea Casino Association, which represents the interests of the nation’s seventeen casinos, is complaining after their industry has been excluded from receiving special Covid-19 crisis loans from the state-backed Tourism Promotion Fund.
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.
The local government has decided to extend tax incentives for the two casinos facing the economic challenges of the pandemic through the end of 2020. This two-month extension is estimated to reduce tax intake by about 7.3 million rubles (US$96,000).
Alex Czajkowski, an igaming marketing expert based in Asia talks with Asia Gaming Briefasia editor Felix Ng about what has him excited around live video in the upcoming year. In our podcast, Alex explains that live video in igaming is no longer just about streaming sports, live dealers, or proxy betting. It’s also going to be an invaluable tool to connect and delight your customers – particularly in Asia.
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.