Kangwon Land, the only casino in South Korea at which locals are permitted to gamble, again pointed to a recent increase in table game betting limits for improved results in the September 2025 quarter, with gross gaming revenue climbing 4.2% year-on-year to KRW368.5 billion (US$255 million). This was also 1.9% higher than Q2.
Kangwon Land’s casino was in May granted permission to increase the betting limits on two VIP baccarat tables from KRW2 million (US$1,435) to KRW30 million (US$21,525) and on two mass blackjack tables and two Texas Hold’em Poker tables from KRW100,000 (US$72) to KRW300,000 (US$215).
Both segments enjoyed year-on-year increases in the three months to 30 September 2025, with the VIP Membership Club reporting a 23.6% year-on-year increase to KRW58.8 billion (US$40.7 million) and mass tables a 3.6% increase to KRW167.0 billion (US$116 million). VIP was down 19.3% compared with 2Q25 however both mass tables and slot machines showed strong sequential growth.
Total drop amount was up 6.9% to KRW1.60 trillion (US$1.11 billion), with Kangwon Land noting a 2.2% increase in casino visitors to 661,196.
The improvement in gaming revenues helped offset a decline in non-gaming, where sales fell by 9.4% year-on-year to KRW50.0 billion (US$34.6 million) although this was considerably higher than the KRW29.2 billion (US$20.2 million) reported in the June quarter.
Net profit of KRW112.3 billion (US$77.8 million) was up 24.1% year-on-year and 83.5% quarter-on-quarter.
Kangwon Land previously stated that its requests to the Ministry of Culture, Sports and Tourism to increase table limits were related to its efforts to provide greater appeal to international players. This included the launch of a new “foreigner-only casino zone” in February and a significant increase to its casino space.
Kangwon Land announced last year a massive US$1.9 billion expansion of its resort, including US$128 million to be spent on a second casino facility.
The broader expansion of Kangwon Land will comprise a new hotel and various leisure facilities, including revamped walking trails around the casino complex, a wellness center and a luxury pool villa, among others.
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