Grand Korea Leisure reopens casinos; Kangwon estimates huge losses

Grand Korea Leisure has resumed operations in its casinos after shutting down in March due to the coronavirus pandemic.

The casino operator has re-opened its three Seven Luck casinos, for the first time since March 24.

The casinos, which are exclusive to foreign passport holders, will require customers to observe social distancing rules and wear facemasks.

The news comes as South Korea announced the ease of social distancing and lockdown measures on 6 May; with certain multi-use facilities to be reopened on a restricted basis, and sports leagues, such as the KBO baseball league and football K-League, to restart.

Elsewhere, Kangwon Land – the only casino in the country where locals are allowed to gamble – announced it will restart preliminary operations of its casinos on 8 May, three days earlier than expected.

Kangwon’s filling to the Korea Stock Exchange on Thursday stated the closure is estimated to cost KRW267.8 billion ($218.6 million), based on average daily casino sales in 2019.

Its casinos have been closed since 23 February.

Iqbal Johal

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