Korea’s Kangwon Land recovery 59%
Friday 12 de May 2023 / 12:00
⏱ 1 min read
(Seul).- Kangwon Land, the only casino in South Korea at which locals are permitted to gamble, reported a 59.2% increase in gaming revenue to KRW306 billion (US$231 million) in the March 2023 quarter, led by gains in the mass market segment. Casino sales were also 4.0% higher than in 4Q22, helping push consolidated sales to KRW358.1 billion (US$271 million).
Located 150 kilometers (93 miles) from Seoul, Kangwon Land was borne out of Korea’s conversion to gas and oil for energy, leading to the closure of mines in Gangwon province in 1989.
According to the company’s Q1 financials, mass tables were the primary contributor with gross gaming revenue of KRW167.6 billion (US$127 million), up 78.9% year-on-year. Slot machine revenue also grew by 57.2% to KRW38.7 billion (US$29.2 million) although Membership Club GGR fell by 2.3% to KRW30.4 billion (US$23.0 million).
VIP play from China continued to show incremental increases, rising to KRW82 billion ($61.9 million) in drop during the quarter, a slight rise from the previous quarter but a massive increase from the KRW1 billion ($755,000) registered in 1Q22.
Japan VIP play continued to contribute the majority of drop (cash exchanged for chips by customers at the table) in the quarter, despite falling from 1Q22 – potentially due a drop-off in pent-up demand, after visa-free entry from Japan fully resumed in Oct.
Categoría:Casino
Tags: Sin tags
País: South Korea
Región: Asia
Event
GAT EXPO CARTAGENA 2026
24 de March 2026
NOVOMATIC drives the growth of the Colombian market at GAT Cartagena 2026
(Cartagena).- Following a standout participation at GAT Cartagena 2026, NOVOMATIC Gaming Colombia reaffirmed its leadership in the Latin American gaming industry by combining a strong technological showcase with the launch of linked progressive jackpots and active involvement in regulatory discussions shaping the future of the slot machine sector in the country.
Thursday 02 Apr 2026 / 12:00
Trade Associations and Governments in Latin America: The Gaming Sector Calls for Technical Dialogue and Regulatory Predictability
(Cartagena de Indias, SoloAzar Exclusive).- Cartagena de Indias was the stage for an intense debate on the role of gaming associations in shaping public policy, where regional leaders agreed on the need to strengthen dialogue with governments, warned about unilateral decisions that affect the sustainability of the industry, and proposed an evolution of trade associations into key technical actors in the region.
Wednesday 01 Apr 2026 / 12:00
Technology, AI and Traceability: Keys to the Future of Gaming at the GAT Expo Cartagena Suppliers Panel
(Cartagena de Indias, SoloAzar Exclusive).- Within GAT Expo Cartagena 2026, technology sector leaders analyzed the challenges and opportunities of the gaming industry during the panel “Innovation, Traceability and Control”.
Tuesday 31 Mar 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.