Some analysts say that South Korean 바카라사이트 companies will enjoy reflective profits as the spread of Corona 19 has slowed down in Korea, while other Asian countries are still spreading.

According to Hana Financial Investment, the casino market in five Asian countries -- South Korea, Macau, the Philippines, Singapore and Cambodia -- is worth 58 trillion won a year, of which only 1.6 trillion won is in South Korea.

However, Macau, Asia's largest casino market, has been restricting foreign entry since last month to prevent the inflow of Corona 19 offshore, and this month it has also suspended the operation of the Gangjiao Bridge linking Hong Kong and Macau.

The Philippines, the second largest in Asia, had 5,223 confirmed cases and 335 deaths as of Wednesday. It has banned all foreigners from entering the country since April 22.

Lee Ki-hoon, a researcher at Hana Financial Investment, said, "If an issue that Chinese VIPs can only come to Korea for a short period of time, something ridiculous can happen," adding, "In the case of Paradise, it is 1.1 times the share-based asset ratio (PBR)."

Due to the closure to prevent the spread of Corona 19, sales of major Korean casino operators, including Kangwon Land and other foreign-only casino businesses such as Grand Korea Leisure and Paradise, are expected to fall sharply in the first half of this year.

According to the casino industry on the 27th, Kangwon Land has been shut down from business and GKL and Parada.E-S decided to close its business until April 6, which is estimated to result in a drop in sales and losses of tens of billions of won.

GKL, which operates three foreigner-only casinos in Seoul and Busan, estimated its sales loss to reach 17.5 billion won on-year due to the two-week shutdown.

In January and February, GKL posted 48.9 billion won in earnings, up 48 percent from a year earlier.

Unlike most casinos for foreigners located in the city center, where most of them are accessible, Gangwon Land's performance after the end of the special law is unlikely to be guaranteed as it is not easy to compete with them to lead foreigners due to the regional characteristics of Kangwon Land, located in Jeongseon County, Gangwon Province.

In response, the global investment bank (IB) agreed that Macau's economy will not recover in a short period of time due to a continued drop in sales at the Macau casino.

Citibank said the impact on Macau's economy will be prolonged due to a surge in cases of overseas reverse inflows into Macau. It is also predicted that sales in April will shrink more than in March. Citibank expects casino sales to fall 94 percent year-on-year to 1.5 billion patacas in April.

It also said that while Macau authorities are restricting visits by foreigners and non-residents due to concerns over the spread of Corona 19, they have recently banned additional Chinese mainlanders, Hong Kongers and Taiwanese who have a history of overseas travel from entering the country, adding that casino sales will not be able to recover again if the Corona 19 situation continues for a long time.
 

The special law is a temporary law that is set to end in 2025. It has been extended twice in 2005 and 2015, respectively, for 10 years.

Moon Tae-gon, CEO of cassbet.com, said in his New Year's address in 2020, "This year's performance is more important than ever before ahead of the end of the special law," but the Korona 19 incident has been prolonged, making it difficult to expect good results.

President Moon said at the 2020 Gangwon Land New Year's greeting ceremony held in January, "We have been smoothing our business over the past 20 years with the exclusive status of Korean-inhabited casinos," adding, "If the statute of limitations on supporting the development of abandoned mining areas ends in 2025, Gangwon Land will be on a path that has never been before."