casino sales fall by 62.4 per cent year-on-year<\/a><\/em> to KRW184.46bn in 2020.<\/p>\n\n\n\nGrand Korea Leisure restrictions<\/h2>\n\n\n\n
At the two casinos in Seoul<\/strong>, guests must wear face masks and have their temperature checked upon entry. Hand sanitisers and masks are available in the casinos.<\/p>\n\n\n\nThe casino has implemented the following Covid-19 safety measures:<\/p>\n\n\n\n
- Controlled access via thermal imaging cameras. <\/li>
- Rearrangement of tables and chairs for social distancing.<\/li>
- Installation of safety shields at table games and slot machines.<\/li>
- Masks and temperature checks for staff.<\/li>
- Professional disinfection of entire facility and equipment.<\/li><\/ul>\n\n\n\n
Expected Losses<\/h2>\n\n\n\n
The long period of inactivity has deeply affected Grand Korea Leisure’s sales<\/strong>. The casino operator reported a loss of KRW64.33bn (US$57.6m) for 2020, compared to profit of nearly KRW72.40bn in 2019.<\/p>\n\n\n\nSales for the last quarter of 2020 decreased by 88.6 per cent year-on-year and 57 per cent<\/strong> compared to the third quarter of 2020.<\/p>\n\n\n\nIn February 2021, casino sales were down by 98.8 per cent year-on-year<\/strong> to KRW507m (US$448,000).<\/p>\n\n\n\nThe casino operator reacted positively to the reopening but does not expect to see revenue increase significantly for some time. <\/p>\n","protected":false},"excerpt":{"rendered":"
Grand Korea Leisure has reopened its two casinos in Seoul after the latest pandemic-related closure that began in November 2020.<\/p>\n","protected":false},"author":176,"featured_media":15942,"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 reopened its two foreigner-only casinos in Seoul, Gangnam COEX and Gangbuk Millenium Seoul Hilton, after a prolonged closure since November 2020 due to pandemic countermeasures. Operations are restricted to 20% capacity, with stringent health and safety protocols implemented. GKL reported significant financial losses for 2020 and Q4 2020, with February 2021 sales down 98.8% year-on-year, and does not anticipate immediate revenue recovery.","focusai_entities":"Grand Korea Leisure, Gangnam COEX, Gangbuk Millenium Seoul Hilton, Central Disaster and Safety Countermeasures Headquarters","focusai_location":"South Korea, Seoul","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GKL Q1\/Q2 Outlook","query":"What are Grand Korea Leisure's revised GGR and NGR projections for Q1 and Q2, factoring in the 20% capacity restriction and the foreigner-only market segment's specific demand elasticity?"},{"label":"Regulatory Framework Adaptations","query":"How might the current regulatory compliance framework in South Korea evolve to support the long-term operational viability of foreigner-only casinos under persistent public health considerations and potential future restrictions?"}],"footnotes":""},"categories":[28,16338,158],"tags":[17025,23907],"class_list":["post-15941","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","category-slider-home","tag-grand-korea-leisure","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15941","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=15941"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15941\/revisions"}],"predecessor-version":[{"id":15992,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15941\/revisions\/15992"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15942"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}