Kangwon Land Reports 650,000 Visitors in Q3 Following Extended Operating Hours; Revenue Up 3.2%

Q3 Visitor and Revenue Performance Overview

Kangwon Land Q3 visitor count reaches 650,000, a 4.8% increase year-on-year Casino revenue hits 345 billion KRW, up 3.2% compared to the same period last year

Extended operating hours drive visitor inflow and revenue

[K-Journal | Reporter Kim Seon-gyu]

According to Kangwon Land’s latest Q3 performance report, the number of visitors reached 650,000, and casino revenue recorded 345 billion KRW, a 3.2% increase year-on-year. This is interpreted as a result of the extended casino operating hours implemented since the second quarter, which increased visitor stay duration and stimulated spending within the resort.

Analysis of key factors for performance improvement

The background to this performance growth lies in the strategy to strengthen Kangwon Land’s competitiveness as an integrated resort. Moving away from a casino-centric operation, the introduction of various cultural tourism programs for resort guests has been positively received. In particular, accommodation packages targeting families and tourism products linked with the local region have gained traction, leading to a steady increase in general tourists beyond casino patrons. Furthermore, the adjustment of operating hours has improved visitor capacity and service efficiency, contributing to higher guest satisfaction.

Casino Industry Regulations and Operating Environment

As the only casino in South Korea permitted for domestic entry, Kangwon Land is subject to strict oversight by the National Gambling Control Commission (NGCC). This performance improvement is notable as it was achieved while simultaneously maintaining regulatory compliance and fostering a healthy gaming environment. Authorities continuously monitor whether Kangwon Land’s operations faithfully adhere to anti-gambling guidelines, and the company is responding by advancing its responsible gambling systems.

Responsible gambling and addiction prevention measures

In preparation for the increase in visitors, Kangwon Land has significantly strengthened the functions of the 'KL Addiction Management Center.' The company has increased the number of counseling staff to prevent excessive gaming and is focusing on establishing a culture of healthy gaming through on-site campaigns. Specifically, the annual budget for promoting responsible gambling has been increased to provide accurate guidance on game rules and education to discourage excessive betting. Experts emphasize that such preventive measures are essential for fulfilling corporate social responsibility while ensuring long-term industry stability.

Future Outlook and Industry Implications

The future outlook for Kangwon Land remains positive. With various cultural performances and winter sports facilities scheduled for the year-end and New Year period, the growth trend in visitor numbers is expected to continue. Additionally, as collaboration projects with local governments to revitalize the Gangwon regional economy gain momentum, the company is expected to solidify its position as a complex cultural space beyond just a casino industry player.

Tasks for sustainable development

For Kangwon Land to achieve sustainable growth, the key task is to reduce reliance on the casino and increase the revenue share of non-casino sectors. To this end, developing various tourism contents that can coexist with the local community, along with expanding resort infrastructure, is required. An industry official stated, "Kangwon Land’s efforts to transform into a sound entertainment space despite the constraints of being a regulated industry are gaining market trust," adding that the company must present a model where responsible gambling and industry innovation coexist.