Kangwon Land to close temporarily

Posted: Aug 25, 2020 09:53 Category: Asia , Land-Based , Posted by Maria Debrincat

On Saturday Kangwon Land announced their temporary shut down in accordance with the country’s tighter COVID prevention measures

Kangwon Land in South Korea has temporarily suspended its operations once again following orders from the government, due to the rise of COVID-19 cases. 

The casino resort, located in Gangwon Province, is the only casino in South Korea where locals are permitted to gamble.  

The closure was imposed on Sunday morning and will last until 6am on 29 August. However, the final reopening date will be announced upon the advice of the health authorities and the COVID-19 situation in the country.  

Two lawmakers indicted in Kangwon Land scandal | AGBKangwon Land has suspended its operations in February to curb the spread of the virus in South Korea. The VIP gaming area reopened in May, after the property had announced several reopening dates which were later pushed back.

Meanwhile, Kangwon Land has also received permission from the Ministry of Sports, Culture and Tourism to extend its operating hours from 18 hours to 20 hours daily and to add more gaming tables from 160 to 180.  

Due to the increase in the Covid-19 cases in the country, authorities are reverting back to Stage 2 of their COVID-19 mitigation plan, which states that large gatherings of 50 or more people, and operations of bars, clubs, cafes and casinos will be suspended.  

The company expects a revenue loss of about KRW7.5 billion (US$6.3 million) based on average daily casino sales during the first half of 2020.  

Kangwon Land, the largest casino in the country, has reported a loss of KRW 45.56 billion (US$38.4 million) in the second quarter of this year compared to a profit of KRW 50.94 billion (US$42.9 million) in the same period last year.  

SiGMA Americas:

Following the successful launch of SiGMA Europe (Malta) and SiGMA Asia (Manila), we’re now launching the inaugural SiGMA AMERICAS, covering all three major timezones. The inaugural edition is set for September 22-24, 2020 with a virtual summit focusing on two themes: SiGMA AMERICAS for the Gaming industry and AIBC AMERICAS for the Emerging Tech industry. We wanted to provide fresh content, to help you navigate through these turbulent times. If you’re exploring Americas as a new frontier or wondering which tech solutions to embrace, we’ve got you covered: tune in on September 22-24, 2020.

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