• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 1 July 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
No Result
View All Result
IAG
No Result
View All Result

Kangwon Land returns to profit in 2Q21

Newsdesk by Newsdesk
Wed 11 Aug 2021 at 05:14
One Night in Kangwon
9
SHARES
219
VIEWS
Print Friendly, PDF & Email

Kangwon Land, the only casino in South Korea open to locals, returned to profit in the three months to 31 June 2021 despite suffering ongoing domestic impacts from the COVID-19 pandemic.

According to the company’s 2Q21 financial statements, Kangwon Land recorded a net income attributable to owners of the parent of KRW20.9 billion (US$18.1 million), improved from a loss of KRW45.56 billion (US$39.5 million) during the same period last year and a loss of KRW40.89 billion (US$36.5 million) in Q1.

The improvement came on the back of a 488% year-on-year increase and a 109% sequential quarterly increase in gross gaming revenue to KRW203.62 billion (US$176.6 million), of which KRW183.9 billion (US$159.5 million) is listed as casino sales, up 550% year-on-year and 115% quarter-on-quarter.

Kangwon Land said mass tables accounted for KRW82.7 billion (US$71.7 million) in casino sales, slot machines KRW74.0 billion (US$64.2 million) and membership (VIP) club KRW47.1 billion (US$40.9 million). The membership club had been the only segment to drive any sales at all during the June quarter of 2020.

Operating income for the period was KRW2.70 billion (US$2.3 million) versus a loss of KRW103.8 billion (US$90.0 million) in 2Q20 and loss of KRW59.62 billion (US$53.2 million) in 1Q21, with visitation of almost 200,000 compared with just 2,364 in 2Q20.

Although open throughout the quarter, Kangwon Land has continued to face capacity restrictions, with a maximum of 1,200 guests allowed through April and May, increased to 2,300 from mid-June.

RelatedPosts

On the brink

Macau GGR continues recent resurgence by rising 19% year-on-year to MOP$21.1 billion in June

Tue 1 Jul 2025 at 12:52
Record-breaking Jacky Cheung residency at Cotai Arena seen to boost Macau economy

Citi: Singer Jacky Cheung’s latest residency series showing signs of boosting Macau GGR in June

Mon 23 Jun 2025 at 13:07
South Korea drops quarantine requirement for unvaccinated arrivals

Tourism professor proposes establishment of regulatory body to better monitor South Koreans gambling abroad

Mon 16 Jun 2025 at 05:47
Morgan Stanley: Macau’s peninsula IRs could claim some GGR share from closure of SJM’s satellites

Morgan Stanley: Macau’s peninsula IRs could claim some GGR share from closure of SJM’s satellites

Thu 12 Jun 2025 at 12:54
Load More
Tags: 2021casino salescovid-19gross gaming revenueKangwon LandSouth Korea
Share4Share1
Newsdesk

Newsdesk

The IAG Newsdesk team comprises some of the most experienced journalists in the Asian gaming industry. Offering a broad range of expertise, their decades of combined know-how spans multiple countries across a variety of topics.

Current Issue

Editorial – An inconvenient truth

Editorial – An inconvenient truth

by Ben Blaschke
Fri 27 Jun 2025 at 15:21

It’s understandable that political observers, academics and members of the public in greenfield jurisdictions would express caution around the legalization...

Light & Wonder’s Siobhan Lane

Light & Wonder’s Siobhan Lane

by Ben Blaschke
Fri 27 Jun 2025 at 15:19

Siobhan Lane, Light & Wonder’s highly experienced CEO of Gaming, speaks to Inside Asian Gaming about the company’s ongoing transformation...

Honesty is the best policy

Honesty is the best policy

by Ben Blaschke
Fri 27 Jun 2025 at 14:13

The Thailand Entertainment Complex Roundtable brought industry stakeholders, politicians and supporters of the government’s Entertainment Complex Bill face to face...

Sri Lanka’s casino industry

Sri Lanka’s casino industry

by Shaun McCamley
Fri 27 Jun 2025 at 13:36

Industry veteran Shaun McCamley delves into the complex history of Sri Lanka’s casino industry at a time when the country...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Thailand in political turmoil as Constitutional Court suspends Paetongtarn as Prime Minister over leaked phone call

Thailand in political turmoil as Constitutional Court suspends Paetongtarn as Prime Minister over leaked phone call

by Newsdesk
Tue 1 Jul 2025 at 15:26

Thailand’s fragile political situation took another dramatic turn on Tuesday as the Constitutional Court suspended Paetongtarn Shinawatra as Prime Minister pending an investigation into her leaked phone call with former Cambodia leader Hun Sen. Paetongtarn may still remain as culture...

On the brink

Macau GGR continues recent resurgence by rising 19% year-on-year to MOP$21.1 billion in June

by Ben Blaschke
Tue 1 Jul 2025 at 12:52

Macau’s casinos generated gross gaming revenue of MOP$21.06 billion (US$2.60 billion) in June, representing a 19.0% improvement over the same month last year and continuing the city’s recent growth spurt. The June figure was only slightly lower than May, when...

PAGCOR donates US$888,000 to Bureau of Immigration to help fund deportation of former POGO workers

PAGCOR donates US$888,000 to Bureau of Immigration to help fund deportation of former POGO workers

by Newsdesk
Tue 1 Jul 2025 at 08:54

Philippine gaming regulator PAGCOR has approved a Php50 million (US$888,000) grant to the Bureau of Immigration (BI) to fund the ongoing deportation of foreign workers previously employed by illegal offshore gaming operators, or POGOs, it revealed Tuesday. In a statement,...

Global operators asked to register interest as New Zealand moves forward with online gambling regulation

New Zealand introduces Online Casino Gambling Bill to parliament

by Newsdesk
Tue 1 Jul 2025 at 06:14

New Zealand’s Minister of Internal Affairs Brooke van Velden has officially introduced the country’s Online Casino Gambling Bill to the House of Representatives. The bill, which aims to regulate New Zealand’s online gambling market by offering up to 15 licenses...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • English