JP Morgan Securities predict Kangwon Land will improve its operating profits in the next three months unless the social distancing gets tighter.<\/p>\n\n\n\n\n\n\n\n
South Korea.- The South Korean casino\u00a0Kangwon Land\u00a0<\/strong>could start to see an improvement in the next quarter\u00a0<\/strong>provided there isn’t a new uptick of Covid-19 cases.<\/p>\n\n\n\n \u00a0JP Morgan Securities<\/strong> noted that the second quarter of the year was the first period since the onset of the Covid-19 pandemic in which the casino operator\u00a0could remain open throughout the whole three months<\/strong>, despite capacity limits.<\/p>\n\n\n\n Analysts said: “Third-quarter mass\/slot revenues should be 20 per cent above second quarter\u2019s<\/strong>, while we project more than KRW25bn (US$21.7m) in operating profits in the third quarter of 2021.”<\/p>\n\n\n\n Kangwon Land<\/a>\u00a0has reduced its capacity again to 30 per cent of pre-pandemic levels<\/strong>\u00a0due to an increase in Covid-19 cases in South Korea. For the first half of the year,\u00a0the casino operator registers a cumulative net loss of over KRW19bn<\/strong>.\u00a0Second-quarter sales<\/a>\u00a0were KRW203.6bn, up 488 per cent when compared to the second quarter of 2020.<\/p>\n\n\n\n The company reported a net profit of KRW20.9bn (US$18.2m) <\/strong>for the second quarter of the year. However, its cumulative net loss for the first half amounts to over KRW19bn.<\/p>\n\n\n\n According to analysts, the\u00a0social distancing measures will be lifted by 2022\u00a0<\/strong>leading the casino operator to achieve full recovery by next year, “probably in the back half.”<\/p>\n","protected":false},"excerpt":{"rendered":" JP Morgan Securities predict Kangwon Land will improve its operating profits in the next three months unless the social distancing gets tighter.<\/p>\n","protected":false},"author":176,"featured_media":17776,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"JP Morgan Securities forecasts Kangwon Land will achieve over KRW25bn (US$21.7m) in Q3 2021 operating profits, driven by a projected 20% increase in mass\/slot revenues over Q2, despite ongoing 30% capacity restrictions. While the operator posted a Q2 net profit of KRW20.9bn (US$18.2m), cumulative H1 net losses exceeded KRW19bn, with full operational recovery anticipated by H2 2022, contingent on the easing of social distancing measures.","focusai_entities":"JP Morgan Securities, Kangwon Land","focusai_location":"South Korea","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Impact Q3 Forecast?","query":"What is the projected GGR impact of the current 30% capacity reduction on Kangwon Land's Q3 performance, and how does this align with JP Morgan Securities' operating profit forecast?"},{"label":"APAC Recovery Benchmarking?","query":"How does Kangwon Land's anticipated H2 2022 full operational recovery timeline benchmark against other integrated resort operators in the APAC region facing similar regulatory and pandemic-induced constraints?"}],"footnotes":""},"categories":[16338,163],"tags":[16471],"class_list":["post-21403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-kangwon-land"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21403","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=21403"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21403\/revisions"}],"predecessor-version":[{"id":21421,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/21403\/revisions\/21421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17776"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=21403"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=21403"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=21403"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}