The\u00a0Seoul Metropolitan Government has raised the city\u2019s alert level<\/a><\/em><\/strong> due to an increase in Covid-19 cases. Small businesses will be limited to a maximum of 100 people on site. Nightclubs and entertainment venues have closed, while restaurants will operate until 9pm.<\/p>\n\n\n\nGKL’s casinos at Gangnam COEX and Gangbuk Millenium Seoul Hilton closed at midnight on Monday. It said in a statement that it expects to report a KRW5.1bn loss in net sales during the period of closures based on average daily net sales from July to September 2020.<\/p>\n\n\n\n
It previously reported a 49.4 per cent sequential increase in casino sales to KRW34.76bn (US$31.1m) for the three months to 30 September 2020, up from KRW23.26bn (US$20.8m) in Q2.<\/p>\n\n\n\n
.<\/p>\n","protected":false},"excerpt":{"rendered":"
The casino operator has confirmed the suspension of activities at its gaming venues in Seoul due to the new lockdown mandated by authorities.<\/p>\n","protected":false},"author":2,"featured_media":12049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Grand Korea Leisure (GKL) has confirmed the suspension of its Seoul gaming venues due to new government-mandated COVID-19 lockdowns, projecting a KRW5.1bn (US$4.6m) loss in net sales. This operational disruption impacts GKL's Q4 performance, following a sequential increase in casino sales in Q3 2020.","focusai_entities":"Grand Korea Leisure, GKL, Seoul Metropolitan Government","focusai_location":"South Korea, Seoul, Gangnam COEX, Gangbuk Millenium Seoul Hilton","focusai_target_profile":"ceo_executive (0.9), operator_casino (1.0), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.8)","focusai_suggestions":[{"label":"GKL Q4 Impact?","query":"What is the projected full Q4 2020 financial impact on GKL, considering this suspension and prior sequential growth trends?"},{"label":"Operational Contingency Plans?","query":"What specific operational contingency plans has GKL activated to mitigate the financial and customer retention impact of these mandated closures?"}],"footnotes":""},"categories":[160,163,16334],"tags":[12436,17025,152],"class_list":["post-12047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-finance-news","category-south-asia-news","tag-casinos","tag-grand-korea-leisure","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=12047"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12047\/revisions"}],"predecessor-version":[{"id":12064,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/12047\/revisions\/12064"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/12049"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=12047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=12047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=12047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}