Kangwon Land Inc, the promoter of Kangwon Land (pictured in file photo), the only casino resort in South Korea where the country’s nationals are allowed to gamble, has resumed operation of its gaming facilities at limited capacity, after the expiry on Monday, of the most recent Covid-19 related shutdown measure.
From Monday, VIP play has been permitted to a maximum capacity of 68 seats, while certain mass gaming areas – slot machines and electronic tables – have been permitted to cater for up to 750 people. That is according to information outlined by the investor relations department of the Korea Exchange-listed firm.
The operation of the gaming facilities could be subject to further change, in accordance with the Covid-19 outlook in South Korea, said the company.
The Kangwon Land site had first been shuttered on a temporary basis in February, near the start of the pandemic emergency. It resumed some casino operations in May, but only for VIP areas, rather than the main floor. It was closed again on August 23, amid a spike of infections nationally.
In a October 4 filing to the Korea Exchange, Kangwon Land said it expected lost casino sales – for the period from 10am on August 23, to 6am on October 12 – to amount to KRW62.7 billion (US$53.9 million), based on daily-average casino sales during the first half of 2020.
The Kangwon Land resort is about 150 kilometres (93 miles) from the country’s capital Seoul.
South Korea had 102 new cases of Covid-19 in the 24 hours to 12am on Tuesday, according to the country’s Ministry of Health and Welfare. That took the national tally of confirmed cases to 24,805, including 434 people that have died as a result.
There has been an easing – from this week – of social distancing measures applied in the country. South Korea’s Yonhap news agency reported that the easing had coincided with announcement of sporadic clusters of infection, and a rise in imported cases.
Under the current social distancing rules, there are no limits to the number of participants in gatherings. Venues such as clubs, karaoke rooms, and bars – including those in the greater Seoul area – are also allowed to operate normally, according to Yonhap, citing government guidance.
Oct 15, 2021A Macau court was told on Friday that a US$12-billion claim against United States-based casino group Las Vegas Sands Corp (LVS) and some of its units, over alleged help securing its Macau gaming...
Oct 15, 2021
Oct 15, 2021
"The Macau recovery continues to be disrupted by false starts, while the lack of [Chinese] public holidays for rest of the year should cap the pace of the rebound”
Andrew Lee and David Katz
Analysts at brokerage Jefferies LLC