NH Investment & Securities predict the South Korean casino could post revenue of KRW1.33tn (US$1.01bn) by the end of the year.<\/p>\n\n\n\n\n\n\n\n
South Korea.-\u00a0Kangwon Land<\/strong>, the only casino in South Korea that allows locals to enter, could end the year with significant revenue growth. According to a study by the brokerage NH Investment & Securities Co Ltd, the casino operator could report revenue of KRW1.33tn (US$1.01bn) by the end of the year if Covid-19 measures are relaxed in the country.<\/p>\n\n\n\n According to analyst\u00a0Hazell Lee<\/strong>, the figure would be a 69.1 per cent improvement from 2021. The casino operator<\/a>\u00a0has reported a net profit of KRW37.55bn (US$28.8m) for the second quarter of the year, up 79.6 per cent year-on-year. Gross gaming revenue (GGR) came in at KRW308.80bn, up 51.5 per cent when compared to Q2 last year.<\/p>\n\n\n\n In May, the casino operator returned to its normal capacity limit<\/a> after months of restrictions due to the Covid-19 pandemic. From April 18, the company was also allowed to extend its operating hours<\/a> to its pre-pandemic opening times of 10am to 6am. <\/p>\n\n\n\n Lee said: \u201cWe anticipate further meaningful sales growth from the third quarter of 2022 in line with the full-quarter reflection of business normalisation effects. For reference, the average daily number of visitors since July has risen to 85 per cent of the pre-pandemic level (8,000 in 2019).\u00a0<\/p>\n\n\n\n “In addition, the daily average drop amount is already at the pre-Covid-19 level thanks to increased drop amount per person.\u201d<\/p>\n\n\n\n However, according to the Korea Centers for Disease Control and Prevention, the country recorded 180,803 new Covid-19 infections on Wednesday, 567 of them from overseas. The number of new cases was a 114.9 per cent increase from the 84,128 recorded in the previous 24-hour period.<\/p>\n","protected":false},"excerpt":{"rendered":" NH Investment & Securities predict the South Korean casino could post revenue of KRW1.33tn (US$1.01bn) by the end of the year.<\/p>\n","protected":false},"author":176,"featured_media":17023,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"NH Investment & Securities projects Kangwon Land, South Korea's sole local-entry casino, to achieve KRW1.33tn (US$1.01bn) in revenue by year-end, a 69.1% increase from 2021, driven by eased COVID-19 restrictions. The operator reported a Q2 net profit of KRW37.55bn and GGR of KRW308.80bn, reflecting significant year-on-year growth and business normalisation effects. However, a recent surge in national COVID-19 cases presents a potential headwind to sustained recovery.","focusai_entities":"NH Investment & Securities Co Ltd, Kangwon Land, Hazell Lee, Korea Centers for Disease Control and Prevention","focusai_location":"South Korea","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.95), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of COVID Resurgence","query":"What is the projected downside risk to Kangwon Land's revenue forecast if the recent surge in COVID-19 cases necessitates a re-imposition of operational restrictions?"},{"label":"Sustainability of Drop Amount","query":"How sustainable is the reported increase in daily average drop amount per person, and what factors could influence its trajectory in the coming quarters?"}],"footnotes":""},"categories":[157,16338,158],"tags":[16471],"class_list":["post-32786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-kangwon-land"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32786","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=32786"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32786\/revisions"}],"predecessor-version":[{"id":32800,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32786\/revisions\/32800"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17023"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}