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Kangwon Land expects KRW53.9bn hit from extended closure

| By Aaron Noy
South Korean casino operator Kangwon Land will now keep its flagship venue in Jeongseongun closed until October, the fourth time it has pushed back the reopening date for the property.

Amid rising numbers of novel coronavirus (Covid-19) cases in the country, the property is now scheduled to reopen on 5 October.

It had been due to reopen today (21 September), having closed its doors on 21 August, less than two months after reopening following its first Covid-19 shut-down.

While it was originally set to be a two-day closure, to 23 August, this was pushed back to 29 August. Reopening was then delayed until 7 September, and then 21 September.

This, the operator said, is likely to mean it loses out on KRW53.9bn (£36.1m/€39.3m/$46.3m) in revenue during the closure.

Kangwon Land has already been badly affected by Covid-19, with revenue falling 63.5% to KRW270.6bn in the first six months of 2020, after it was closed from 23 February due to the pandemic.

Image: Laserland / CC BY-SA

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