Kangwon Land to invest US$128 million into second casino facility in Korea
Tuesday 03 de December 2024 / 12:00
⏱ 1 min read
(South Korea).- South Korea’s Kangwon Land, the only casino in the country at which locals are permitted to gamble, says it will invest a total of KRW179.6 billion (US$128 million) into the development of a second casino site – part of a larger US$1.9 billion expansion project announced in September.
In a Monday filing, the Korean operator said the second casino facility aimed to “create a more enjoyable gaming environment by addressing the issue of overcrowding in [the] existing casino.”
The facility, it said, would cover 16,161 square meters and be located across multiple floors of the High1 Grand Hotel Main Tower. Construction is slated to begin this month and take three years to complete, currently slated for December 2027.
According to Kangwon Land, the US$128 million investment represents 4.88% of the company’s equity capital.
Aside from development of a second casino site, the broader expansion of Kangwon Land will comprise a new hotel and various leisure facilities, including revamped walking trails around the casino complex, a wellness center and a luxury pool villa, among others.
As previously reported by Inside Asian Gaming, completion of the second casino site will triple Kangwon Land’s gaming area capacity, incorporating new VIP rooms with helicopters utilized to fly in both Korean and international visitors, while a sky bridge will link the casino to the nearby High1 Ski and Golf Resort.
Kangwon Land has since been granted permission to increase the total number of gaming tables it operates from 200 to 250 and gaming machines from 1,560 to 1,860, with betting limits in dedicated foreigner-only zones to be increased significantly from KRW300,000 currently to KRW300 million.
The development is said to be motivated by the future threat posed by MGM’s US$10 billion integrated resort development in Osaka, Japan, scheduled to open in 2030.
Categoría:Casino
Tags: Sin tags
País: South Korea
Región: Asia
Event
SBC Summit Americas 2026
09 de June 2026
Belatra Games Highlights Networking Value at SBC Summit Americas 2026
(Fort Lauderdale, SoloAzar Exclusive).- Lucila M. Barletta, Head of Accounts LatAm at Belatra Games, shared her insights on the company’s participation at SBC Summit Americas. From strengthening partnerships to exploring new opportunities, she emphasized the importance of both large industry events and smaller networking experiences in driving meaningful business growth.
Friday 03 Jul 2026 / 12:00
Zenith Strengthens LATAM Presence at SBC Summit Americas
(Fort Lauderdale, SoloAzar Exclusive).- In conversation with SoloAzar, Eddie Morales, Zenith's Business Development Manager, shared the company’s objectives at SBC Summit Americas, the opportunities generated, and the outlook on the future of the gaming industry in Latin America.
Friday 03 Jul 2026 / 12:00
LSports LATAM Secures Major Partnerships at SBC Summit Americas 2026
(Fort Lauderdale, SoloAzar Exclusive).- In Q&A after SBC Summit Americas 2026, Fernando Martinez, representative of LSports LATAM, talked about the company’s goals, achievements, and future plans in the region. Martinez shares insights on the evolving dynamics of the Latin American market, the importance of strategic partnerships, and how LSports is positioning itself as a leading data and trading services provider.
Wednesday 01 Jul 2026 / 12:00
SUSCRIBIRSE
Para suscribirse a nuestro newsletter, complete sus datos
Reciba todo el contenido más reciente en su correo electrónico varias veces al mes.
