Tag Archives: Kangwon Land
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…
South Korea – Kangwon Land confirms worst quarter for five years
Kangwon Land, the only South Korean casino operator allowed to let locals play, saw its second quarter profit fall by 10.7 per cent to US$96.9m, making it the casino’s worst performance in five years. GGR fell by six per cent to US$338.9m whilst non-gaming revenue increased by 11.1 per cent to US$10.51m. JP Morgan Securities…
South Korea – Kangwon Land to feel affects of political uncertainty
Morgan Stanley has downgraded its outlook on South Korea’s Kangwon Land casino following political uncertainty that resulted in President Park Geun-Hye being arrested. The analyst said that Kangwon Land’s revenues have fallen to ‘2014 levels.’ Morgan Stanley analyst Jay Lee said: “We are now at levels seen in 2014, with annual sales/net profit 17 per…
Russia – Kangwon Land to invest in Tigre de Cristal
Summit Ascent Holdings, the Lawrence Ho funded operator behind, Tigre de Cristal in Russia’s Far East, has formed a strategic partnership with Kangwon Land, the largest gaming operator by revenue in the Republic of Korea. Kangwon Land will invest in Phase 2 of Tigre de Cristal as well as other future projects. The two casinos…
South Korea – Kangwon Land to fight against proposals for second locals casino
Korean casino Kangwon Land has said it is against the opening of a casino, potentially by Las Vegas Sands, in the Saemangeum region in North Jeolla Province, allowing South Koreans players to gamble. The statement marks the first time Kangwon Land has officially passed comment on a new casino project. Currently Kangwon Land is the…
South Korea – Kangwon Land sees huge increase in profits
South Korea’s Kangwon Land Casino saw its net income for the fourth quarter of 2015 rise to US$75.8m, (KRW93bn) an astonishing 96.3 per cent rise compared to the same quarter last year. However, last year, the final quarter was impacted by a one-off non-operating expense meaning that the increase in Gross Gaming Revenue was healthy…
South Korea – Kangwon Land launches 8 Peacocks progressive
Kangwon Land Casino, the only casino in South Korea to allow locals to play, has installed 8 Peacocks, the Asian themed progressive from Casino Technology. Combining a suite of 5 compelling titles in the Aurora cabinet; Peacock and Dragon, Five Blessings, The Great Warlord, Clover and Peacock and Magic Pearl, the progressive link 8 Peacocks…
