Published
Land-BasedCasinoFinancialIndustry

Grand Korea Leisure expects to lose $31.1m in Seoul shutdowns

All casinos in Seoul (South Korea) metropolitan area were forced to a temporary shutdown on November 24 due to increased COVID-19 cases, and Grand Korea Leisure, the foreigner-only casino operator, stated it expects to lose KRW5.1bn ($4.6m) in net sales. 

seoul

The company closed its Gangnam COEX and Gangbuk Millenium Seoul Hilton casinos until 8 December. The expected sales loss is based on the average daily from Q3 when the company reported KRW34.76bn in net sales. 

Level 2 pandemic counter-measures suspended operations in casinos and at racing events. Among the affected casinos are Paradise Casino Walkerhill Seoul and Paradise City Casino Incheon managed by Paradise Co Ltd. Reportedly, Paradise City suspended operations on Monday to complete anti-epidemic sterilization, but the venue received no further instructions from the company. 

However, not all of the country’s casinos are suffering from the renewed shutdowns. According to Asia Gaming Brief, the Kangwon Land casino remains operational with a reservation system of 1,500 patrons per day. Previously, Kangwon Land was closed for the longest period of time out of all the casinos in South Korea, and the company is preparing for significant operating losses. 

The Jeju Dream Tower, which was in development since 2008, is predicted to open on 18 December with the Grand Hyatt hotel featuring 1,600 guest rooms. 


Asia News Sponsor
Premium+ Connections
 
Premium

Lynon

 
Premium

Galaxsys

 
Premium

1xBet Partners

 
Premium

Sport Generate

 
Premium

Digitain

 
Premium

RISK

 
 
Premium

Imagine Live

 
Premium

GammaStack

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Esportes Gaming Brasil

Ana Carolina Luna Maçães

LeoVegas

Mattias Wedar

Follow Us

Taking stock: Counting on crypto

Gambling Insider tracks the value of the biggest cryptocurre...

In focus: MiFinity

A trusted payments partner for the iGaming industry....

Panel: LatAm and crypto lead the way

During the SBC Summit Americas in Florida, executives from N...

In focus: Spayz.io

Payments that actually work for iGaming operators…...

A welcome from your host

A message from the Founder of the Global Gaming Awards and G...

From the Lead Partner

A message from BetConstruct - Lead Partner of the Global Gam...

The year in review

The Event Manager of the Global Gaming Awards reviews the mo...

Casino Operator of the Year 2025

We present to you the 2025 Shortlist for the Casino Operator...