A seminar held at the Jeju Tourism Organization building offered a debate and a rich discussion about the best means of boosting the island’s casino industry, both in relation to the Covid-19 pandemic and in the face of its long-term challenges.
It’s one step backward and one step forward for South Korea’s gaming industry this week or, in another framing, bad news in the north and good news in the south.
Seoul area casinos and racing facilities are being limited to 20 percent capacity under tightened Covid-19 related social distancing rules. While most other social venues will have 30-50 percent capacity limits, a tougher standard is being imposed on gambling venues.
Kangwon Land invited a limited number of guests to an exhibition of its own slot machine manufacturing brand KL Saberi. At the event there were 22 slot machines on display representing nine different games.
In its increasingly bitter dispute with the local labor union, Landing International has refuted claims by union leaders that it puts the health of workers at risk, noting that it complies with all labor laws and that a smoking ban inside the casino is now taking effect.
The Incheon Free Economic Zone Authority announced on Thursday that the Inspire Resort, which is to be foreigner-only casino resort project in Yeongjong Island incheon, has filed a foreign direct investment report of US$200 million.
While the green shoots of recovery are still far from becoming a forest, the raft of earnings reports from Asia’s operators on Tuesday all gave grounds for optimism that recovery is taking root.
Paradise Co. said its quarterly loss narrowed to KRW31.9 billion won ($28.5 million) from the prior quarter when it posted a loss of KRW48.6 billion, while its Paradise operating unit turned EBITDA positive in the period.