Published
Casino

South Korean casinos continue to struggle due to pandemic

Casinos meant for the foreign nationals in the island of Jeju, South Korea, are on the verge of bankruptcy.

southkoreaskyline

 

The Jeju Tourism Association announced 2,746 guests visited the island in June, with lesser numbers in May and April. It’s an almost 99% drop in visitors compared to the previous year and is a direct impact of the COVID-19 pandemic. 

 

The island has eight casinos, four of which are temporarily closed down, and the remaining operate with reduced working hours and staff.

 

The casinos earned only KRW4.8bn ($4m) in monthly gross sales in March, KRW5.9bn in April and KRW3.6bn in May, an almost 30% drop compared to the previous year. 

 

Casinos in Juju island are not the only ones losing money.

 

Grand Korea Leisure reported a 66% drop in casino sales for the month of July, earning KRW14.19bn. The earnings rise by 14% compared to KRW12.48bn in June. 

 

The casino experienced a 68% drop in table game sales to KRW11.67bn compared to 2019.

 

EGM sales went down by 47% to KRW2.53bn. Table drop brought in KRW101.89bn, 6% less than in June. 

 

The casino sales for H1 2020 fell by 45% year-on-year earning Grand Korea Leisure KRW147.26bn. Table drop brought in KRW1.08 trillion ($904m) 
 
Dropping numbers for Grand Korea Leisure can also be attributed to the global pandemic and ongoing travel and operational restrictions.   


Asia News Sponsor
Premium+ Connections
Premium

Galaxsys

 
Premium

RISK

 
 
Premium

GammaStack

 
 
Premium

Imagine Live

 
Premium

PIN-UP Partners

 
Premium

1xBet Partners

 
Premium

Digitain

 
Premium

Lynon

 
Premium

Sport Generate

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Esportes Gaming Brasil

Ana Carolina Luna Maçães

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...