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 South Korean casino market is dominated by three major players—Paradise Co., Grand Korea Leisure (GKL), and Kangwon Land.
Privately-held Paradise Co. operates four foreigner-only casinos in the country. These are Paradise Casino at Paradise City in Incheon, Paradise Casino Walkerhill in Seoul, Paradise Casino Busan, and Paradise Casino Jeju Grand.
Government-owned GKL operates three foreigner-only casinos under the Seven Luck brand; namely, the Seoul Gangnam Casino, the Seoul Hilton Casino, and the Busan Lotte Casino.
Finally, government-owned Kangwon Land operates a single casino in a remote part of Gangwon Province, but this facility has the distinction of being the only casino in the nation where it is legal for South Korean...
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Consolidation of the bases and advancement in adversity was the thrust of Macau Chief Executive’s policy address for 2021, though it gave little away when it came to the current pillar of the economy - the gaming industry.
Gaming suppliers, like all areas of the industry, have felt the pinch from the Covid-19 crisis, though their growing digital businesses have proved a bright spot and helped offset the impact of the crisis.
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.