February 2, 2021, 4:40 pm ·
Grand Korea Leisure (GKL) is a foreigner-only casino operator in South Korea. It announced that three of its casinos in Seoul and Busan will remain closed until February 15.
The extension of the inactive period was confirmed last Sunday by the government. The reason for that is the current coronavirus pandemic. The restriction aims to detain the latest outbreak of COVID-19.
Part of those restrictions include maintaining the second highest of the five alert tiers in South Korea and that is the Level 2.5 alert across Greater Seoul. The alert level for the rest of the country remains 2.
In the meantime, South Korea reported 305 new coronavirus cases, which is the lowest number in
Grand Korea Leisure Co Ltd, an operator in South Korea of foreigner-only casinos, said on Monday its two Seoul venues and one Busan site will stay closed until 9am local time, on February 15.
The Seoul venues have been temporarily suspended since November 24; and the Busan site since December 1, as Covid-19 countermeasures. An existing company-issued closure notice covering the three venues had been due to expire on Monday at 9am local time.
The firm also noted in its update filing to the Korea Exchange that – as a result of the further-extended closures – it was upping its estimated loss regarding the group’s casino net sales to about KRW32.58 billion (US$29.2 million), from KRW27.05 billion previously.
GGRAsia – Grand Korea extends Seoul, Busan casino closures to Feb 1 ggrasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ggrasia.com Daily Mail and Mail on Sunday newspapers.
Grand Korea Leisure Co Ltd (GKL), an operator in South Korea of foreigner-only casinos, says closure of its two Seoul venues and one Busan venue will be extended until 9am on January 4, from a prior end date of 9am on Tuesday (December 29).
As a result, the firm has also upped its estimate of lost sales, to KRW16 billion (US$14.6 million), from KRW13.6 billion.
The group gave the news in a Monday filing to the Korea Exchange.
The same day, Paradise Co Ltd, another operator of foreigner-only casinos in that nation, told the bourse that its Paradise Casino Walkerhill, in Seoul, would extend its closure period from an original end date of 6am on Tuesday, to 7am on January 4.
South Korea casinos extend shutdown; Mohegan Incheon project delay
South Korea casinos extend shutdown; Mohegan Incheon project delay
By
South Korea’s casinos are struggling as the country struggles to flatten its pandemic infection curve, while the global gaming slowdown has pushed back the opening of an in-development integrated resort.
On Monday, Grand Korea Leisure (GKL) informed investors that its three Seven Luck-branded foreigner-only casinos wouldn’t reopen as scheduled on Tuesday (29). Instead, the casinos will now reopen at 9am on Monday, January 4, provided the country’s third wave of COVID-19 doesn’t turn into a tsunami.
South Korea reported a record 40 pandemic deaths on Tuesday and new infections topped 1,000, leading the Yonhap news agency to warn of a “looming medical system crisis.” GKL shut its two Seoul casinos one month ago, and its Busan property followed suit shortly thereafter.