Gambling turnover at South Korea’s foreigner-only casinos for full-year 2020 fell by 58.7 percent from the prior-year period, coinciding with the Covid-19 pandemic, according to data from the Korea Casino Association (KCA), an industry trade body. Such 2020 gambling turnover was KRW595.4 billion (US$534.8 million), compared to just under KRW1.45 trillion in 2019.
The decrease coincided with an approximately 64-percent decline year-on-year in the aggregate of visits to South Korea’s 16 foreigner-only casinos, according to the data released. The association didn’t give a precise number for 2020 visits, but in 2019 industry-wide, the tally was 3,233,761, according to data from the Ministry of Culture, Sports and Tourism, issued in April 2020.
GGRAsia – S Korea 2020 casino bet turnover dips 58pct to US$535mln
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GGRAsia – Kangwon Land casino reopens, GKL with Busan ops
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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.