The panic surrounding the spread of coronavirus has reached South Korea recently since the only land-based casino where Koreans are permitted to gamble will close until February 26th. The casino, Kangwon Land, has made the announcement on February 24th having already been closed since February 23rd.
The quarantine frenzy continues all over the world, with all major gambling venues, from MGM in Las Vegas to the best online casino in Kenya shutting down, leaving the conusmers on the markets
South Korea is on the highest alert since February 24th when the government announced the red alert. The current number of coronavirus diseased individuals has crossed six hundred and the government made some restrictions regarding travelling. The casino made a decision to close on its own and not pressured by the government in order to protect its employees and clientele.
The casino won’t easily recover from the closing. In 2019, they reported their highest-ever revenues. In the last quarter of 2019, they experience approximately $333 million of revenues which were a 6 per cent increase when compared to 2018.
Due to the numbers, the following years have been projected as highly successful but the coronavirus has jeopardized the estimates. The current closure will cost the casino an estimated $9 million based on their daily casino revenues in the same period in 2019.
Additionally, even when the casino continues working, the coronavirus panic will continue to decrease their revenues as has been noted in Macau because the travelling and other prohibitions are simply keeping people away from casinos. It is hard to predict what the future holds for land-based casinos in the area but without a doubt, much of its clientele might try to find the same entertainment on the web with online slot games.