Kangwon Land to increase capacity to 50% of normal levels

Kangwon Land has confirmed it has been allowed to increase its capacity to 50 per cent of normal levels from June 14.

South Korea.- Kangwon Land will return to a 50 per cent capacity limit following a relaxation of Covid-19 countermeasures.

It has been operating at 20 per cent, with a maximum of 1,200 guests. From June 14, Kangwon Land can receive up to 3,000 guests. 

Kangwon province is currently under what is known as “Level 1.5” standard, but a move to Level 1 will let the casino operator increase its capacity.

Kangwon Land reported that sales during the first quarter of the year reached KRW97.4bn, down 58.7 per cent when compared to the KRW236bn seen in the same period last year.

Sales were also down 25.8 per cent from the last quarter of 2020, mainly due to a Covid-19 lockdown during the first part of the year.

Despite a weak performance during the first quarter of 2021, Kangwon Land expects to see better performance for the rest of the year.

According to Shinhan Investment Corp, the South Korean casino could see a gradual recovery during 2021 and 2022 as social distancing rules are eased following a rise in the vaccination rate in South Korea.

Kangwon Land has been seeing nearly 2,000 daily average visitors but the number could grow to 8,000 visitors if the Covid-19 vaccine rate increases.