Kangwon Land, the only Korean casino in which locals are allowed to gamble, saw its gross gaming revenue decline 7.5% year-on-year to KRW317.5 billion, down from KRW343.1 billion 12 months earlier.
The decline included a 9.1% fall in revenue from the property’s mass gaming tables to KRW154.5 billion, while slot machine revenue was down 7.4% to KRW138.7 billion. Membership Club sales increased slightly (1.4%) to KRW 57.7 billion.
Overall table drop fell 3.8% to KRW1.59 trillion with visitor numbers sliding 4.5% to 777,621.
Kangwon Land did manage a strong increase in non-gaming revenue, up 36.8% to KRW51.6 billion. However net profit fell sharply by 21.6% to KRW93.3 billion.
Casino sales have now fallen sequentially for four consecutive months, impacted by a decision to reduce the number of tables in operation due to increasing pressure from South Korea’s Ministry of Culture, Sports and Tourism.
The company has also come under scrutiny following a corruption scandal involving the hiring of 226 employees in 2012 and 2013 via political connections.