Grand Korea Leisure casinos open, Kangwon Land losses surge

Casino operator Grand Korea Leisure (GKL) ended its pandemic-related shutdown on Wednesday, while rival Kangwon Land let investors know the shocking cost of its ongoing shutdown.

On Wednesday, GKL threw open the doors of its three Seven Luck-branded casinos, which have been shut since March 23 to minimize further spread of the COVID-19 coronavirus. The casinos, which cater exclusively to foreign passport holders, are requiring guests to observe social distancing, submit to temperature checks and wear face-masks.

GKL President Yoo Tae-Yeol said the company was doing its best to adapt to the “difficult situation that we have never experienced before.” Yoo also noted that GKL was publicly traded, suggesting that it had an obligation not only to the general public but also to investors.

GKL rival Paradise Co Ltd, which operates four foreigner-only casinos, reopened its venues last month, while Kangwon Land, South Korea’s largest casino operator and the only one in which local residents are allowed to gamble, recently extended its shutdown through May 11.