Jeju casinos at highest risk from Covid-19 downturn

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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