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GGRAsia – Only 2 of 8 Jeju casinos now open as Gongzi Jeju shuts


Only two out of eight foreigner-only casinos on the South Korean holiday island of Jeju are currently operating, according to Thursday telephone enquiries by GGRAsia. As of mid-December, four out of eight Jeju casinos had been running.
The latest one to undergo a temporary closure – of undetermined length – is Gongzi Jeju Casino (pictured in a file photo). It has been shut indefinitely since April 10, according to telephone calls made by GGRAsia to the venue, and to the Jeju local government.
The reason for the latest venue to suspend functions was “business deterioration” due to the Covid-19 pandemic. The suspension was “temporary, but with no time limit”, said the Jeju government official. ....

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GGRAsia – Casino operator Landing Intl has US$272mln loss in 2020


South Korea casino resort operator Landing International Development Ltd said its net loss for full-year 2020 was approximately HKD2.12 billion (US$272.0 million), slightly narrowed from the net loss at HKD2.13 billion in 2019, according to its annual results filed on Thursday.
Hong Kong-listed Landing International developed and operates the Jeju Shinhwa World resort (pictured in a file photo) and its foreigner-only gaming facility, Landing Casino, on the South Korean island of Jeju. The parent firm also develops property.
The firm said the slightly-narrowed annual loss was thanks to factors including cutting operating expenses and “employee-benefit expenses”.
The firm’s consolidated revenue for 2020 was HKD788.01 million, a year-on-year decline of 3.4 percent, linked to fewer visitors to Landing Casino amid the Covid-19 pandemic, and lower property sales. ....

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