South Korea: turnover at foreigner-only casinos down 59% in 2020

Revenue was severely impacted by the Covid-19 pandemic.
Revenue was severely impacted by the Covid-19 pandemic.

South Korea’s foreigner-only casinos reported turnover of KRW595.4bn (US$534.8m) for 2020.

South Korea.- The Korea Casino Association (KCA) has reported that turnover at South Korea’s foreigner-only casinos fell 59 per cent year-on-year in 2020.

Turnover for foreigner-only casinos was KRW595.4bn (US$534.8m), compared to KRW1.45tn (US$1.22bn) a year earlier.

Results were severely affected by restrictions imposed due to the Covid-19 pandemic, which resulted in a 64 per cent decline in the number of tourists visiting the country’s 16 foreigner-only casinos.

Casinos were closed for most of 2020, with suspensions extending into 2021.

Grand Korea Leisure reported a loss of KRW64.33bn (US$57.6m) in 2020. The other major operator, Paradise Co Ltd, reported its gambling sales were down 57.2 per cent year-on-year.

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