Kangwon Land News·07/27/26

Kangwon Land Reports 380 Billion KRW in Q3 2024 Revenue Amid Regulatory Relief

김선규편집국 기자·By

Q3 2024 Performance Overview

Kangwon Land records 380 billion KRW in Q3 revenue

Operating profit increases by 5% year-on-year

Visitor numbers show a steady recovery with a 3% increase

[K-Journal | Reporter Kim Sun-kyu]

According to Kangwon Land's recently disclosed Q3 2024 performance, revenue reached 380 billion KRW. This figure represents a slight increase compared to the same period last year, driven by stable casino operations and an increase in resort guests. Industry analysts suggest that the government's casino regulatory easing policy is having a positive impact on the ground.

Key Background for Performance Growth

This performance growth is not limited to the casino sector. Kangwon Land has implemented various marketing strategies to attract visitors to its non-casino facilities, including hotels and water parks. Specifically, the expansion of content for family tourists is credited with contributing to the increase in visitors. Additionally, internal service improvements and operational efficiencies within the casino were reportedly key factors in the performance upgrade.

Industrial Regulations and Policy Trends

Government Casino Regulatory Easing Policy

The government and the Ministry of Culture, Sports and Tourism are currently discussing regulatory improvement measures to strengthen the competitiveness of the domestic casino industry. In line with these policy changes, Kangwon Land is expanding customer convenience facilities and promoting the modernization of its operating methods. A representative stated that this regulatory easing aims for qualitative growth as a healthy leisure industry rather than simply encouraging betting.

Strategy to Strengthen Integrated Resort Competitiveness

Beyond its uniqueness as a domestic-focused casino, Kangwon Land is solidifying its position as an all-season integrated resort. To achieve this, it plans to carry out large-scale renovations of resort facilities along with the expansion of various cultural performances and convention facilities. This is expected to have a positive ripple effect on the local economy as well as the domestic tourism industry as a whole.

Casino policy images — SHOP THE LOOK: Integrated Resort Facility

Future Outlook and Addiction Prevention Measures

Importance of Creating a Responsible Gambling Environment

Kangwon Land is focusing as much on creating a responsible gambling environment as it is on performance growth. Recognizing that addiction prevention is essential for the sustainability of the casino industry, the company is strengthening counseling and preventive education through the KL Addiction Care Center (KLACC). Kangwon Land stated that it operates a 24/7 monitoring system to ensure visitors can enjoy games in a healthy manner.

Future Market Outlook

Experts predict that Kangwon Land will further advance its resort-centric business model in the future. The challenge lies in moving away from a structure that relied on casino revenue toward creating a complex profit structure that combines entertainment and leisure. Kangwon Land expressed its commitment to becoming a leading domestic tourist destination that grows alongside the local community while maintaining transparent management and social responsibility.

SHOP THE LOOK: Responsible Gambling Education

Frequently Asked Questions

What is Kangwon Land?+

Kangwon Land is a large-scale integrated resort located in Jeongseon-gun, Gangwon-do, South Korea, and is the only casino in the country that allows domestic residents to enter. It operates as a public-interest corporation, featuring hotels, condos, water parks, and golf courses, with the goal of revitalizing the local economy and developing the tourism industry.

What are the main reasons for Kangwon Land's improved performance?+

The main reasons for the improvement in performance are the results of the government's regulatory easing policies combined with strategies to strengthen the competitiveness of the non-casino sector. Specifically, the improvement of resort facilities for family tourists and the enhancement of services led to an increase in visitor numbers and revenue, while operational efficiency improved overall management indicators.

How are Kangwon Land's addiction prevention measures operated?+

Kangwon Land's addiction prevention measures are systematically operated through the KL Addiction Care Center (KLACC), a specialized institution. The company implements preventive education for visitors, professional counseling services, and voluntary self-exclusion programs to prevent gambling addiction. These activities are essential measures to ensure the integrity of the casino industry and protect the safety of its users.