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South Korean casino operator Paradise Co is expected to record a consolidated operating loss of KRW14.9 billion ($13.3 million) in the first quarter of 2021, according to analysts from Shinhan Investment Corp.
Jeju’s foreigner-only casinos have seen a sharp 64 percent drop in sales, and a decrease of employees to the tune of 20 percent as a result of the coronavirus pandemic.
A group of casino operators want the government to allow Vietnamese entry to make up for foreigners’ inability to come to the country due to Covid-19 flight restrictions.
The Covid-19 pandemic may be a trigger for South Korea to rethink its foreigner-only casino policy, as the country’s casinos struggle with a lack of tourism revenue.
South Korea wants to turn the area near Incheon International Airport into a version of Manila’s Entertainment City, but its vision is at risk from competition from Japan.
An opposition party has called on the government to allow the development of a casino that South Korean nationals would be allowed to enter on Saemangeum reclaimed land, located in North Jeolla Province, as a means to boost tourism.
Myanmar looks set to be the next Asian jurisdiction to open its doors to IRs as the government seeks to attract much needed tourism dollars, with experts in the region predicting strong interest from potential investors.
Myanmar’s Union Minister for Hotels and Tourism, Ohn Maung, says that a relaxing of the country’s gambling laws will allow foreigner-only casinos to operate...
A second indication has emerged that Wakayama’s IR advocates are now moving away from their notion that casino entry might be limited to foreigners. This...
Vietnam’s Ministry of Finance has been given the authority to grant casino and gaming service licenses in the country, under a newly-issued circular, VietnamNet...
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