• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Tuesday 2 September 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 reports improved year-on-year GGR and profit in 4Q24

Newsdesk by Newsdesk
Thu 23 Jan 2025 at 23:00
Mass gaming segment drives sequential revenue growth for Korea’s Kangwon Land in 3Q24

Kangwon Land

11
SHARES
280
VIEWS
Print Friendly, PDF & Email

Kangwon Land, the sole casino in South Korea that isn’t foreigner-only, reported gross gaming revenue of KRW333.3 billion in the three months to 31 December 2024, up 6.2% year-on-year although down 5.8% compared with Q3.

The year-on improvement was driven by gains in the company’s premium Membership Club segment, which grew by 69.1% year-on-year and 13.7% sequentially to KRW54.1 billion. However, mass tables were down 2.1% year-on-year and 7.9% quarter-on-quarter to KRW148.3 billion. Slots were basically flat versus 3Q24 but declined by 9.7% quarter-on-quarter to KRW131.0 billion.

Kangwon Land said drop amount was up 2.7% year-on-year to KRW1.37 trillion in the December 2024 quarter, aided by a slight 1.0% increase in casino visitors to 575,664. Visitation by foreigners was up 16.5%.

Despite those mixed results, net profit grew by 50.1% year-on-year and 21.8% quarter-on-quarter to KRW110.7 billion, aided by a significantly improved margin of 32.1%.

Kangwon Land announced in September that it will invest US$1.9 billion into a major expansion of its resort, which is a popular skiing destination in winter. The expansion will include a US$128 million investment into a second casino site which it said will “create a more enjoyable gaming environment by addressing the issue of overcrowding in [the] existing casino.”

The new casino facility is planned to cover 16,161 square meters and be located across multiple floors of the High1 Grand Hotel Main Tower, 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 (US$210) currently to KRW300 million (US$210,000).

RelatedPosts

China’s largest travel agency discussing agreement with Korea Tourism Organization

South Korea’s gaming and tourism industries call for overhaul of regulatory framework amid rising regional competition

Mon 1 Sep 2025 at 05:34
IAG names Grand Lisboa Palace Resort Macau as venue and SJM Resorts S.A. as Venue Sponsor for 2025 Power 50 Black Tie Gala Dinner

SJM reports widened 1H25 loss despite GGR growing almost 12% to US$1.90 billion

Thu 28 Aug 2025 at 18:54
Asia market roundup

Asia market roundup

Thu 28 Aug 2025 at 12:26
10 Years Ago: Next Stop Japan

Osaka-based forum to study the potential impact of MGM’s Japan IR on Korea’s casino industry

Wed 27 Aug 2025 at 05:40
Load More
Tags: gross gaming revenueKangwon LandMass tablesMembership ClubNet profitSouth 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 – Flipping the script

Editorial – Flipping the script

by Ben Blaschke
Thu 28 Aug 2025 at 12:30

This month represents an important milestone for Inside Asian Gaming as we launch IAG EXPO – an expansion of the...

Asia market roundup

Asia market roundup

by Ben Blaschke
Thu 28 Aug 2025 at 12:26

Inside Asian Gaming takes a deep dive into the state of Asia-Pacific’s key gaming markets: who’s hot, who’s not and...

Rewriting the rules

Rewriting the rules

by Newsdesk
Thu 28 Aug 2025 at 11:43

IAG EXPO, taking place at Newport World Resorts from 8 to 10 September, is not your usual trade show. IAG...

Test of character

Test of character

by Newsdesk
Thu 28 Aug 2025 at 11:28

Since its establishment in 1989, Gaming Laboratories International (GLI) has developed into the world’s most trusted name when it comes...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Zitro: Spanish flair

Zitro teases big reveal at G2E Las Vegas 2025

by Newsdesk
Mon 1 Sep 2025 at 14:40

Spanish gaming supplier Zitro says it is gearing up for a milestone appearance at this year’s Global Gaming Expo (G2E) in Las Vegas, promising an experience filled with new content, innovation and a highly anticipated product debut. Located in a...

Survey finds Thai locals mostly worried that legal casinos will increase problem gambling, crime and conflict

Chinese visitation, air capacity to Thailand are continuing to fall in 3Q25

by Newsdesk
Mon 1 Sep 2025 at 13:52

The number of Chinese tourist arrivals to Thailand continues to fall, with airlines increasingly slashing flights and visitation through August falling below already subdued forecasts, according to research from Maybank Securities. Just days after Thailand’s Constitutional Court ousted Prime Minister...

SunTrust becomes listed tourism business as Suncity releases first renderings of Manila hotel and casino project

Suntrust confirms “strategic working agreement” with Travellers entities to cede construction, operational control of Manila casino project

by Ben Blaschke
Mon 1 Sep 2025 at 13:08

Philippines-listed Suntrust Resort Holdings has publicly confirmed that it is pursuing a “strategic working agreement” with Newport World Resorts operator Travellers International Hotel Group Inc (TIHGI) and associated companies aimed at expediting the completion of Suntrust’s US$1.25 billion LETX hotel...

Auto Draft

Macau sets another post-pandemic record in August as GGR hits MOP$22.2 billion

by Ben Blaschke
Mon 1 Sep 2025 at 12:51

Macau has continued its recent revenue momentum, with the Gaming Inspection and Coordination Bureau (DICJ) reporting Monday that gross gaming revenues for the month of August reached MOP$22.16 billion (US$2.76 billion). This means August set yet another post-pandemic GGR record,...

Your browser does not support the video tag.


IAG

© 2005-2025
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

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • English