The impact of the coronavirus epidemic is being felt in gaming halls around the world, even as Macau’s casino industry begins to reopen.
Kangwon Land, the only locals casino in Korea, voluntarily closed its doors from February 23 to February 29 due to the contagion, and reported that it could lose KRW22 billion (US$18 million) due to the closure. That estimate was based on the property’s daily casino revenue in full-year 2019.
According to Inside Asian Gaming, Kangwon Land management didn’t offer details on the closure, other than saying it was “due to the nationwide spread of Covid-19.” JP Morgan cited the possibility of further closures or a reduction in capacity, similar to the 50 percent capacity table limit placed on Macau gaming floors when they reopened last week, following a 15-day shutdown.
“The question remains if foreigner-only casinos will follow suit,” the bank noted, “though the possibility would not seem high, as their utilization rates are typically less than half of Kangwon’s anyway.”
The closure was only the second in the casino’s history; it closed for one day in 2012 following a security breach.
Meanwhile, according to GGRAsia, the number of visitors to the Tigre de Cristal in the Russian Far East has declined, but should “quickly rebound” once the Covid-19 outbreak is contained, said a senior executive of the property’s promoter, Summit Ascent Holdings Ltd.
Last week, the Russian government announced a temporary entry ban for Chinese nationals, including people from Hong Kong and Macau. The ban applied to those who travel with tourist, private, student and work visas, said the country’s Foreign Ministry.
Eric Landheer, executive director of Hong Kong-listed Summit Ascent, told GGRAsia that the ban “has understandably had an adverse impact on our visitation to start 2020.”
He added, “We have a diverse customer base and are not solely reliant on one feeder market. We also have many repeat visitors that have only postponed (not cancelled) their planned visits to our property, so we anticipate a quick rebound once we have moved past this challenging period.”
In Japan, meanwhile, Yokohama City—a leading bidder for one of the country’s first three integrated resorts—announced last month that it has postpone resident briefings on its planned IR bid due to coronavirus fears.
