South Korean Casinos Delay Opening; GKL & Paradise to Open Next Year
South Korea is striving hard to flatten the curve of pandemic infection, and the casino scene of the country is reeling under the economic pressure inflicted by the global lockdown. The casino industry has almost screeched to a halt, and its slowdown has adversely affected the development of integrated resort projects in South Korea.
Grand Korea Leisure (GKL) declared that its three Seven Luck-branded foreigner-only casinos would continue to remain shut until 4th January 2021 to contain the spread of the viral infection. South Korea is currently dealing with the third wave of the pandemic, and authorities are trying hard to contain the outbreak. Following newly issued quarantine regulations, casinos have decided to remain closed until the first week of January 2021.
Even GKL’s market competitors have decided to extend the shutdown in adherence to the new lockdown standards. Paradise Co. Ltd., the foreigner-only casino rival of GKL, has declared an extension of shutdown of its Walkerhill Casino in Seoul until 4th January. Even Kangwon Land, the biggest casino gaming destination of South Korea, has declared a shutdown for the third time this year, that too for an indefinite period of time.
It seems that the casino gaming prospects of Korea-based US projects are not so bright either. Mohegan Gaming and Entertainment, a popular casino operator in the US, has pushed the opening of Incheon Casino Inspire Entertainment Resort to around 2023.