Mar 16, 2020 Newsdesk Latest News, Rest of Asia, Top of the deck  
Kangwon Land, the only casino resort in South Korea where the country’s nationals are allowed to gamble, has decided to extend – for a fourth time – the temporary closure of its gaming venue. It now says it will reopen at 6am on March 23.
The original closure was described by the resort’s promoter, Kangwon Land Inc, as a precautionary measure related to an outbreak of Covid-19 infections in that country. Non-gaming facilities at Kangwon Land (pictured) will also be closed until March 22, according to a Friday filing to the Korea Exchange.
The Covid-19 virus outbreak – recorded first in mainland China – has now been declared a pandemic by the World Health Organization, with infections across the Asia-Pacific region and the globe.
Kangwon Land Inc had originally announced a temporary closure of the casino from noon on February 23 until 6am on February 26, and then extended that on three consecutive occasions, the latest extension running until Monday (March 16).
The firm said in Friday’s filing – at the time it flagged the fourth extension to the closure – that it was anticipating its lost casino sales to amount to KRW106.6 billion (US$88.0 million) from the start of the casino closure on February 23. The estimate was based on Kangwon Land’s daily casino revenue in full-year 2019, added the scheme’s promoter.
The company said that non-gaming operation losses for March 2 until March 22 were expected to amount to an additional KRW11.0 billion.
As of Sunday, South Korea had recorded 8,162 case of coronavirus-related infection and 75 deaths, according to the Korea Centers for Disease Control and Prevention.
As new cases are continuing to emerge in small clusters across South Korea, the body called for “stronger prevention measures,” especially in “public spaces and facilities used by many people,” according to a Sunday statement.
Jun 07, 2023
Jun 05, 2023
Jun 08, 2023
Jun 07, 2023
Jun 08, 2023
Casino equipment and game technology provider Light & Wonder Inc says it has an agreement with Shift4 Payments Inc to integrate the latter’s firm payment processing technology into Light &...Jun 07, 2023
Casino gaming content and hardware provider Light &...Jun 06, 2023
Electronic table games (ETGs) supplier Interblock dd is...Jun 05, 2023
Random number generator (RNG) testing tools are among the...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”We’ve said we want to grow EBITDA ... to US$1.4 billion in 2025. And we have a really high level of conviction about getting there”
Matt Wilson
Chief executive of casino equipment provider Light & Wonder