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.

[image:Pixabay]

bitcoin
Bitcoin (BTC) $ 12,991.97 0.49%
ethereum
Ethereum (ETH) $ 408.03 1.06%
tether
Tether (USDT) $ 1.00 0.19%
ripple
XRP (XRP) $ 0.253012 0.99%
bitcoin-cash
Bitcoin Cash (BCH) $ 271.92 0.79%
chainlink
Chainlink (LINK) $ 12.17 5.20%
binancecoin
Binance Coin (BNB) $ 30.13 1.80%
polkadot
Polkadot (DOT) $ 4.32 0.76%
litecoin
Litecoin (LTC) $ 59.34 1.08%
bitcoin-cash-sv
Bitcoin SV (BSV) $ 181.38 6.10%
S&P 500  ^GSPC 
$3,465.39  $11.90  (0.34%)
Dow Jones Industrial Average  ^DJI 
$28,335.57  $28.09  (-0.10%)
NASDAQ Composite  ^IXIC 
$11,548.28  $42.28  (0.37%)
Russell 2000  ^RUT 
$1,640.50  $10.25  (0.63%)
Crude Oil Dec 20  F*CL.NYM 
$39.78  $0.8600  (-2.12%)
   
$0.0000  $0.0000  (0.00%)