Grand Korea Leisure<\/strong><\/em>, which operates three foreigner-only casinos in Seoul and Busan, estimates a sales loss of KRW17.5 billion (\u20ac 13 million) as a result of its two-week closure. This estimation is based on the daily average of total casino sales in 2019.<\/p>\n\n\n\nIn January and February, Grand Korea Leisure was actually posting very strong results – KRW48.9 billion (\u20ac36 million) for the two-month period, which was up 48 per cent on the 2019 numbers.<\/p>\n\n\n\n
Grand Korea Leisure employs over 1,800 people, including the head office and casino staff, of which about 80 per cent have now been put on paid leave.<\/p>\n\n\n\n
On the other side, Kangwon Land<\/strong><\/em>, which closed its doors on February 23 and is scheduled to reopen on April 6, is calculating a KRW15.8 billion (\u20ac 11.7 million) sales loss. But it is not only the finance of the company at risk. This casino, based in rural Gangwon Province and the nation\u2019s only casino that can serve South Korean gamblers, has a surrounding community that is suffering too because many local businesses have depended on Kangwon Land and the tourists it draws for their own revenues.<\/p>\n","protected":false},"excerpt":{"rendered":"South Korea’s casinos will feel the impact of the closure that has been extended until April.<\/p>\n","protected":false},"author":2,"featured_media":4956,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"South Korean casino operators, including Grand Korea Leisure and Kangwon Land, are facing significant revenue losses due to extended closures until April 6 amidst the coronavirus outbreak. Grand Korea Leisure estimates a KRW17.5 billion sales loss, while Kangwon Land projects a KRW15.8 billion impact, with both also managing substantial employee paid leave and local economic repercussions.","focusai_entities":"Grand Korea Leisure, Kangwon Land","focusai_location":"South Korea, Seoul, Busan, Gangwon Province","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Post-closure recovery strategies?","query":"What specific operational and marketing strategies are Grand Korea Leisure and Kangwon Land implementing to mitigate post-closure revenue shortfalls and accelerate market recovery?"},{"label":"Regional economic impact?","query":"Beyond direct casino losses, what is the estimated broader economic impact on the Gangwon Province community due to Kangwon Land's extended closure, and what support measures are being considered?"}],"footnotes":""},"categories":[160,28,16338,163,158],"tags":[152],"class_list":["post-4953","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-casino-news","category-east-asia-news","category-finance-news","category-slider-home","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4953","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=4953"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4953\/revisions"}],"predecessor-version":[{"id":777008713,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/4953\/revisions\/777008713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/4956"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=4953"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=4953"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=4953"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}