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Tag Archives: Kangwon Land

South Korea – Kangwon Land sees debt fall by almost half during year of COVID

Korean corporate analysis website CEO Score Daily has said that South Koreas only casino at which locals can gamble, Kangwon Land enjoyed one of the largest drops in debt of any Korean company last year. Despite generating a US$249.7m loss in 2020, the operator’s debt dropped 45 per cent year-on-year from US$645m to US$353.4m whilst…

South Korea – Kangwon Land forced to close for the second time

South Korea’s locals casino, Kangwon Land, has been forced to close again following national health guidelines on social distancing after a spike in coronavirus cases. It will be shut until August 29, marking the second closure this year between February 23 and May 8. It had been allowed to increase its daily attendance from 750…

South Korea – Kangwon Land delays plans to reopen its main gaming floor

South Korean casino Kangwon Land has been forced to cancel its plans to reopen its main gaming floor following a surge in new cases of coronavirus throughout South Korea. The casino opened its VIP floor on May 8 and had planned to open parts of its main gaming floor as part of a ‘pilot operation,’…

South Korea – Kangwon Land gets longer opening hours and more tables

Kangwon Land, the only casino in South Korea in which locals are allowed to gamble, will be able to stay open for longer and add more gaming tables once its mass gaming activities resume. South Korea’s Ministry of Culture, Sports and Tourism confirmed the extension to its operating hours from 18 hours to 20 hours…

South Korea – Kangwon Land closes for almost a week due to Coronavirus

South Korea’s Kangwon Land, the only venue where locals are allowed to play, will close its doors for almost a week due to the Coronavirus. Management confirmed that an initial 24 hour closure would be extended to a six day closure ‘due to the nationwide spread of COVID-19.’ JP Morgan said: “The question remains if…

Korea – Kangwon Land installs 68 slots from Novomatic

Korean casino Kangwon Land has installed 68 Novomatic gaming machines further augments the casino’s international approach in terms of gaming technology. State-of-the-art gaming equipment from Austria has long been a part of the gaming offer on the casino floor. Friendly business relations go back to 2009, and over the years, the casino has regularly stocked…

South Korea – South Korean government succeeds in curbing Kangwon Land’s growth

The South Korean government has been successful in its attempt to curb revenue growth at Kangwon Land, the only casino in South Korea that is allowed to take bets from locals, which saw its fourth quarter profit drop by 75.8 per cent year-on-year. Kangwon Land was told by the government to reduce the number of…

South Korea – Reduced table hours to impact Kangwon Land by ten per cent

The Ministry of Culture, Sports, and Tourism in South Korea has ordered Kangwon Land to reduce the number of its mass tables from a maximum 180 to a maximum 160 as well as cutting their opening hours from 20 hours per day to 18 hours per day. The casino has only been operating with 130…

South Korea – Reform plan will hamper Kangwon Land’s growth

South Korean casino Kangwon Land, the only venue in the country allowed to let locals gamble, will have its growth hampered by a series of government initiatives known as the Gambling Industry Reform Plan. JP Morgan Analysts DS Kim and Sean Zhuang said: “The plan includes four major initiatives, one of which effectively targets Kangwon…