• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Saturday 19 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 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
273
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

Macau GGR comes in at MOP$18.9 billion in April, up 1.7% year-on-year

Macau VIP baccarat up almost 23% year-on-year to US$2 billion in June 2025 quarter

Thu 17 Jul 2025 at 07:04
Macau GGR down 62% year-on-year to MOP$2.48 billion in June

Jefferies updates Macau GGR forecast for 2025 following recent market strength

Wed 16 Jul 2025 at 06:33
Time to shine

Okada Manila’s gaming revenues down a further 9.1% quarter-on-quarter to US$125 million in 2Q25

Mon 14 Jul 2025 at 18:15
Macau GGR hits new post-pandemic high of MOP$20.8 billion in October

Citi: Macau industry EBITDA likely to have grown by 3% in 2Q25

Thu 10 Jul 2025 at 05:46
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 – 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
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
NWR
Jumbo
568Win

Related Posts

Star to open AU$3.6 billion Queen’s Wharf Brisbane development on 29 August

Star’s Hong Kong partners said to be eying Crown Resorts to run casino at Queen’s Wharf Brisbane if takeover talks succeed

by Ben Blaschke
Fri 18 Jul 2025 at 11:11

Star Entertainment Group’s Hong Kong partners are reportedly looking to replace Star with its local rival Crown Resorts as operator of the casino at Queen’s Wharf Brisbane should the partners complete a deal to acquire Star’s 50% stake in the...

Inside Thai IRs

Las Vegas Sands’ Patrick Dumont says Thailand needs “regulatory clarity, long-term vision” to fulfil entertainment complex ambitions

by Ben Blaschke
Fri 18 Jul 2025 at 06:02

The President and Chief Operating Officer of Las Vegas Sands Corp, Patrick Dumont, has highlighted the concerns of international investors around Thailand’s stalled push to legalize casino gaming, noting the need to ensure “regulatory clarity” and “long-term vision”. He also...

Melco awarded 20-year license to operate City of Dreams Sri Lanka

Bollywood star pulls out of City of Dreams Sri Lanka opening but flagship event to continue as planned

by Newsdesk
Fri 18 Jul 2025 at 05:51

Melco’s City of Dreams Sri Lanka will hold its Grand Opening on 2 August, but will have to do so without the presence of the event’s main attraction after Bollywood star Shah Rukh Khan was a late withdrawal. Khan’s agency...

SJM and Macau police hold large-scale drill simulating casino robbery

SJM and Macau police hold large-scale drill simulating casino robbery

by Pierce Chan
Thu 17 Jul 2025 at 12:37

Six government departments including Macau police agencies held a large-scale drill in partnership with SJM Resorts on Wednesday in which they simulated a bomb threat and armed robbery at a casino. The exercise, named “Wolf Capture 2025”, involved the Unitary...



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