Paradise Co Ltd, one of the South Korean operators of foreigner-only casinos in that country, has reopened its casino in Jeju island, said the firm in a filing on Monday. The company added it had extended the shutdown of the operations of its other three gaming venues until April 20 in line with the country’s effort at curbing the further spread of the Covid-19 pandemic.
The various gaming venues of Paradise Co had been suspended since March 24.
Paradise Co told the Korea Exchange in its latest filing that it was extending the suspension of three casino sites – at Seoul, Incheon and Busan – until 6am on April 20. It emphasised that its hotel operations were still “open”.
As for Paradise Casino Jeju Grand (pictured in a file photo), it reopened on Monday (April 13) at 6am, the firm said.
Another foreigner-only casino operator, Grand Korea Leisure Co Ltd – an affiliate of the Korea Tourism Organization, South Korea’s official tourism agency – had already announced last week it was suspending operations at its casinos until April 20.
Grand Korea Leisure runs three foreigner-only casinos in South Korea, under the ‘Seven Luck’ brand.
The decisions of the foreigner-only casino operators are said to be in line with the country’s efforts to promote “social-distancing” measures to help contain the outbreak of the novel coronavirus associated with the Covid-19 disease.
Kangwon Land Inc, the promoter of Kangwon Land, the only casino resort in South Korea where the country’s nationals are allowed to gamble, has had its gaming facility shuttered since February 23. On April 3 it announced it had extended again the temporary closure of its gaming venue. It now says it will reopen at 6am on April 20.
Mar 05, 2021Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
Mar 05, 2021
Mar 05, 2021
“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"
Junling Tan, Yu Sheng Tay and Vikas Halan
Analysts at credit rating agency Moody’s Investors Service