$19.45 million estimated as a result of the previous shutdown

The company’s foreign-only casinos, based in Millennium Hilton Seoul, Intercontinental Seoul COEX, and Lotte Hotel Busan, were ordered to close from Nov. 24, according to a report by GGRASia. The source explained that the program was scheduled to end on Dec. 29, but was extended for another six days before it was extended to Jan. 17.

South Korea started the year with nearly 18,000 active coronavirus cases, up more than 186 percent from the previous month, and consequently decided to extend strict “level 2.5” lockdown restrictions on Seoul and areas around big cities until the end of January, putting the city under more lenient “level 2” restrictions. Such private gatherings of 51.7 million residents across the country are now open to fewer than five people, and most businesses are banned from opening after 9 p.m.

The Grand Korea Leisure Company Limited is reportedly expected to lose about $24.47 million due to the current extended shutdown, up nearly 14% from $19.45 million estimated as a result of the previous shutdown. But many industry experts are reportedly optimistic that the country’s casinos will be allowed to reopen at least partially on Feb. 1, as the daily coronavirus infection rate has halved to about 500 over the past three weeks.

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