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Closure of Grand Korea Leisure Co Ltd’s (GKL’s) two foreigner-only casinos in Seoul, capital of South Korea, as a Covid-19 countermeasure, is to continue until 9am on March 15, the firm said in a Friday filing to the Korea Exchange. The same day, South Korea’s Central Disaster and Safety Countermeasure Headquarters said it would extend until March 14, so-called “Level 2” social distancing measures in Seoul, reported local media. Grand Korea Leisure noted on Friday that its expected group loss of casino net sales due to extension of pandemic-precaution closures at two of its venues, ...

Grand Korea Leisure Co Ltd, an operator in South Korea of foreigner-only casinos, said on Monday its two Seoul venues and one Busan site will stay closed until 9am local time, on February 15. The Seoul venues have been temporarily suspended since November 24; and the Busan site since December 1, as Covid-19 countermeasures. An existing company-issued closure notice covering the three venues had been due to expire on Monday at 9am local time. The firm also noted in its update filing to the Korea Exchange that – as a result of the further-extended closures – it was upping its estimated los...

Thus, GKL has thus far closed at least three of its gambling & entertainment facilities. Previously, the operator’s properties had been operating under a string of restrictions, at just 20 per cent of their normal capacities, under the government’s alert Level 1.5 that was issued in mid-November. Amid economic uncertainty, GKL has warned investors that the combined impact of the closure of all three of its casinos would result in loss of KRW5.5 billion (US$5 million) in revenue in the third quarter. The figure of loss is based on the facilities’ average daily sales. However, South Kore...