Korean Locals Casino Reopens

Kangwon Land (l.), the only South Korean casino open to locals, reopened February 15 as its host province eased Covid-19 restrictions. It had been closed since December 8.

Korean Locals Casino Reopens

Kangwon Land, South Korea’s only locals casino in Gangwon Province, reopened at 10 a.m. Monday, February 15, after a two-month shutdown due to Covid-19.

On the same day, Grand Korea Leisure (GKL), which operates foreigner-only casinos in the country, said its resorts will remain closed until March 1. Both venues—Gangnam COEX in Busan and Gangbuk Hilton in Seoul—have been closed since November 24.

Kangwon Land Inc. reported year-on-year fourth-quarter losses of nearly KRW33.33 billion compared to a KRW52.62 billion profit in Q4 2019. According to GGRAsia, the latest quarterly result was still an improvement from the KRW40.86 billion loss recorded in the third quarter of 2020.

In a filing to the Korea Exchange, GKL said it estimates net-sale losses of about KRW37.68 billion (US$34.0 million) from KRW32.58 billion previously.