Casinos in South Korea have been struggling as the country is struggling to flatten the curve of pandemic infection. The global gambling slowdown has thwarted the initialization of an under-construction integrated resort.
On Monday, GKL or Grand Korea Leisure told investors that three of its Seven Luck foreigners-only casinos would not restart as scheduled on the last Tuesday. Instead of that, the casinos have been set to reopen on Monday, January 4 at 9 am, given the nation’s third wave of coronavirus will not turn into something worse.
South Korea has reported about record deaths for the pandemic on Tuesday and new victims of the infection have topped 1,000, propelling the Yonhap news agency to signal an imminent crisis in the medical system. GKL has also closed its other two Seoul casinos almost one month earlier and Busan Property of it has followed a suit afterward.
The largest casino of South Korea, Kangwon land which has been the only gambling venue in the entire nation that grants local inhabitants, also shut their activities for the third time on December 8 this year. The venue is geographically segregated than most, however, has forsaken making assumptions on the suitable time for its reopening.
US Rival
Casino operators in the US especially Mohegan Gaming and Entertainment have recently revealed its pushing back on the predicted opening date for its $1.5 billion Incheon casino IER or Inspire Entertainment Resort from 2022 to 2023.
Like several other casino operators, MGE has explored itself in a money crunch because of the pandemic’s effect. However, MGE is challenged highly for its number of continuing megaprojects, which include Inspire Athens integrated resort construction at Greece’s Hellinikon.
MGE also added that it hopes to secure extra financing for the Korean project by early 2021 in spite of the uncertainty of the surrounding.