South Korea evaluates amendment on casino law

South Korea authorities could reduce the operating hours of casino facilities.

South Korea.- Kangwon Land casino in South Korea could be affected by a new resolution that would reduce the operating hours of gaming salons. According to Calvin Ayre, 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 legally participate.

The South Korean Ministry of Culture, Sports and Tourism (MCST) has demanded casino Kangwon Land’s operators to reduce the hours that the facility is opened to the public, after the press released a report noting that the controversial casino was involved in a case of corruption that was revealed last year.

“Currently, Kangwon Land is closed between 6 am and 10 am local time,” JPMorgan noted 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.”