Kangwon Land Incorporated, a South Korea based casino has been granted three year license extension by the government.
The Kangwon Land Incorporated casino is South Korea’s only casino where locals can gamble alongside foreign tourists.
The new license extension will be operational until 2023 as the same has been approved by South Korea’s Culture, Sports and Tourism Ministry.
Notably, the casino has been shut since December 8 due to COVID-19 situation and the shut down is likely to remain in place until January.
According to a report by World Casino News, “Kangwon Land Incorporated reportedly used an official December 7 filing to pronounce that the most recent coronavirus-related shutdown of Kangwon Land Casino is set to cost it up to $920,000 a day and followed a third quarter in which its associated income dropped by over 131% year-on-year to a deficit of approximately $37.56 million.”