reopened to the VIP segment<\/a><\/em><\/strong> on May 8 and has not allowed the general public to return.<\/p>\n\n\n\nGross gaming revunue (GGR) showed a 91.4 per cent fall year-on-year to KRW28.3 billion (US$23.89 million). That came from the VIP segment, wih table and slot revenue from the casino floor falling to zero.<\/p>\n\n\n\n
For the first half of 2020, sales dropped 63.5 per cent compared to the first six months of 2019.<\/p>\n\n\n\n
Sales for H1 totalled KRW270.64 billion (US$228.7 million), leading to a loss of KRW201.67 billion (US$170.2 million) for the period.<\/p>\n\n\n\n
Table games amounted to about half of sales for H1 at KRW101.8 billion (US$85.9 million). Slot machine revenue came to KRW87.3 billion (US$73.6 million) while VIP room revenue came to KRW64 billion (US$54 million). Meanwhile, KRW21.9 billion (US$18.4 million) was paid to players in bonuses. Non-casino revenue totalled KRW42.4 billion (US$35.7 million).<\/p>\n","protected":false},"excerpt":{"rendered":"
Most sales came from its VIP business, which reopened after lockdown on May 8.<\/p>\n","protected":false},"author":2,"featured_media":8903,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Kanwong Land reported a Q2 2020 net loss of KRW45.56 billion (US$38.4 million) as revenue plummeted 90.5% year-on-year to KRW34.63 billion, primarily due to COVID-19 related closures. Gross Gaming Revenue (GGR) fell 91.4%, with the VIP segment, which reopened on May 8, being the sole contributor to casino floor revenue. The H1 2020 performance also showed significant declines, with a loss of KRW201.67 billion (US$170.2 million).","focusai_entities":"Kanwong Land","focusai_location":"South Korea, Seoul","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.7), operator_casino (0.95), marketing_crm (0.7), investor_analyst (0.98), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Mass Market Recovery","query":"What is Kanwong Land's strategic outlook for the reintroduction of the mass market segment, and what are the projected GGR recovery timelines and operational expenditure adjustments associated with a full reopening?"},{"label":"Liquidity & Debt","query":"Given the significant H1 losses, what is Kanwong Land's current liquidity position, and how might these financial results impact its debt servicing capabilities or necessitate covenant renegotiations with lenders?"}],"footnotes":""},"categories":[16338,163],"tags":[152],"class_list":["post-8901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8901","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=8901"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8901\/revisions"}],"predecessor-version":[{"id":8925,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8901\/revisions\/8925"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8903"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8901"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8901"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8901"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}