The South Korean casino and hotel Kangwon Land posted KRW 361.5bn in gaming revenue for the recent second quarter.

Key Points

• Kangwon Land increased its GGR by 9.2% reaching KRW 361.5bn in Q2.
• Earnings grew in every segment of gaming but fell in the non-gaming business.
• The site produced a profit for the quarter, climbing by 6.4%.

Kangwon Land, a combined hotel and casino in South Korea, stated gross gaming revenue of KRW 361.5bn, equivalent to US$260m, across the April-June period in 2025. This marks a 9.2% year-on-year growth. The business saw steady activity this quarter and produced higher revenue levels amid a decrease of 4.1% in international visitors versus Q2 of the previous year. Still, overall guest numbers at the hotel and casino went up by 5.9% compared to last year’s same quarter; the property attracted about 578,520 visitors.

Revenue by Sector

Total gaming revenue expanded by 9.2% for Q2; Kangwon Land’s main boost came from table games, which contributed KRW 152.6bn, taking a year-on-year lift of 4.2%. Slots followed table games, with slot machine revenue rising 1.8% since Q2 of the prior year to KRW 136bn. Revenue from the club for members increased sharply, jumping by 42.8% year-on-year to hit KRW 72.9bn this quarter. The luxury main tower, High1 Resort, posted a 26.1% gain in revenue, bringing in KRW 32.3bn.

Non-Gaming Results

On the other hand, non-gaming sectors at Kangwon Land saw sales decrease by 9.2% on a year-to-year basis to KRW 29.2bn. Compared with the previous quarter, these non-gaming sales fell by 50.6%. Hotel sales led in non-gaming income, delivering KRW 19.8bn, a 10% decrease versus last year’s quarter, followed by condo sales at KRW 4bn. The property posted a net profit of KRW 42.6bn over the quarter, representing a 6.4% rise compared with the second quarter last year.

2025 Highlights

Kangwon Land received a KRW 75bn refund after a legal process overturned value-added tax requirements on the property in this quarter. The company began a new flower festival in June, in part to help offset the drop in foreign visitor numbers. Earlier, in Q1, Kangwon Land signed a Memorandum of Understanding with Interblock and KOMSCO to create new casino game cards and electronic shoe devices. KOMSCO is working on the design of casino game cards, Kangwon Land is making and assembling the electronic shoe product, while Interblock is handling the development and promotion of the shoe.