Kangwon Land returns to pre-pandemic operating hours
The resort has been allowed to return to its pre-pandemic hours from today (April 18).
South Korea.- The South Korean casino Kangwon Land has confirmed that from today (April 18) it has been allowed to extend its operating hours, returning to its pre-pandemic opening times of 10 am to 6am. However, its capacity will remain limited to 3,000 customers at any one time, 50 per cent of its pre-pandemic capacity.
The use of masks will continue to be mandatory. The announcement was made after South Korea’s Centers for Disease Control and Prevention reported on Friday that it would ease social distancing rules slightly across the country.
Drop in South Korean casino workforce
Three of South Korea’s largest casino operators have seen a reduction in their workforce over the past two years due to the Covid-19 pandemic. According to a report from Yonhap News Agency, the staff at Kangwon Land, the only casino that caters to South Koreans, had a workforce of 3,858 in December, down 25 per cent from two years ago.
In 2021, South Korea’s 16 foreign-only casinos saw their revenue drop by nearly 31.9 per cent when compared to the previous year, coming in at KRW407.13bn. Total casino revenue was down 59.7 per cent compared to KRW2.93tn in 2019, the most recent trading year before the Covid-19 pandemic hit travel and tourism.
In February, Kangwon Land posted a net loss of KRW11bn (US$9.2m) for the fourth quarter ended December 31. GGR for the quarter was KRW236.9bn, up 87.5 per cent year-on-year.
Of the total GGR registered, KRW98.1bn came from mass gaming tables while slot machines generated KRW96.1bn. VIP players generated KRW42.8bn. Kangwon Land registered total sales of KRW242.1bn, down 1.3 per cent quarter-on-quarter and up 84.4 per cent from 2020.
