The South Korean Casino “Kangwon Land” called on to cut down its operating hours

Kangwon Land casino, that operates a number of game tables and slot machines for domestic and international customers under its gaming licenses currently has a monopoly on the local market in South Korea. However, the South Korean Kangwon Land casino might be impacted by a new resolution that would minimise the operating hours of gaming salons. Consequently, Calvin Ayre, said: “The decision was made in order to help the embattled operation stay in the government’s good books.” Kangwon Land is the only gaming salon where South Korean citizens can engage legally.

The South Korean Ministry of Culture, Sports and Tourism (MCST) has called on the casino Kangwon Land’s operators to cut down the operating hours to the public, following a press report emphasising the controversial case of corruption associated with the casino last year. The Kangwon Land is closed between 6 am and 10 am local time lately.

JPMorgan brought to notice in a memo issued this week: “The changes in opening hours should have some direct revenue impact up to 10 percent if we simply assume Kangwon Land’s revenue is evenly split during operating hours, though it’s difficult to assess accurately at this point.”