Kangwon Land estimates loss in casino sales of US$46 million after closure extended into October

Korean locals casino Kangwon Land has extended its latest COVID-19 closure by a further two weeks, pushing the total closure period beyond a month for the second time in 2020.

In a Friday filing, Kangwon Land said it would remain closed from its previously announced reopening date of Monday 21 September until at least 6am on Monday 5 October – a full 43 days since South Korea’s second wave of COVID-19 forced the property to close its doors on 23 August.

Kangwon Land had earlier this year suspended casino operations on 23 February before reopening for VIP guests on 8 May and for main gaming floor players from 20 July.

The company has also revised its expected loss in sales for this second closure period from KRW36.4 billion (US$30.7 million) to KRW53.9 billion (US$46.3 million).

Located at the foot of a ski and golf resort in a remote area of Gangwon Province, Kangwon Land is the only South Korean casino in which locals are allowed to gamble.

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