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South Korea’s Kangwon Land adjusts strategy to a global integrated resort
Kangwon Land, the South Korean operator of a casino and resort complex in Gangwon Province, announced plans earlier this year to evolve into a global integrated resort (IR), focusing on enhancing its non-gaming facilities.Â
Covid case confirmed at Kangwon Land ski resort
Felix Ng -
An employee tasked with snow removal at Kangwon Land’s High1 ski resort has been confirmed positive with a Covid-19 infection. It is not believed that the employee had any interaction with visitors.
Daily Asia Gaming eBrief: Wynn Al Marjan Island to diversify Wynn’s global earnings
On track for a cash flow crescendo! Wynn Al Marjan Island is set to enhance Wynn Resorts' global cash flow by 2027, according to Deutsche Bank, with a projected GGR of up to $1.66 billion and significant margin improvements from lower UAE gaming tax rates. Meanwhile, despite economic challenges in China, the online travel agency platform Trip.com reported record travel orders, reaching an all-time high during October's Golden Week and surpassing 2019 figures. Top outbound destinations included Japan, Thailand, and Malaysia, indicating resilient travel demand.
Kangwon Land reports 3.4% sequential decrease in gaming sales to $220M
South Korea’s Kangwon Land reported gaming sales of $220 million for the second quarter of this year, marking a 3.4 percent decrease from 1Q24, but up 3.8 percent from the same period in 2023.
Daily Asia Gaming eBrief: Wynn targeting UAE, possible Thailand expansion
Wynn Resorts is doubling down on its investment in a new IR in the UAE, with Wynn Al Marjan Island expected to get a $900 million investment from the company, of the total $4 billion needed for the project. The group's CEO notes that construction is going smoothly, with expectations to open the property by 2027.
Kangwon Land reports 1Q24 net income growth of 26% q-o-q
South Korea’s Kangwon Land has reported net income of $68 million for 1Q24, a 26 percent increase from 4Q23, but down 8.5 percent sequentially.
Kangwon Land plans $1.9 bln IR revamp
South Korea's Kangwon Land is planning to invest $1.9 billion in transforming its casino into a luxurious integrated resort.
Kangwon Land reports 2023 net income surges 200% to $260M
South Korean casino operator Kangwon Land reported net income of KRW345 billion ($260 million) for 2023, marking a 199 percent increase from 2022.Â
Kangwon Land appoints Choi Cheol-Gyu as the new CEO following the resignation of the previous head
The gaming operator of South Korea's exclusive casino for locals, Kangwon Land Inc., has announced a change in leadership. The vice-president of the firm, Choi Cheol-Gyu, substituted the former CEO Lee Sam-Geol after his resignation last Friday.
Kangwon Land’s net profits down 19.4 percent q-o-q in 3Q23
South Korean casino operator Kangwon Land Kangwon Land reported net profits of KRW73.8 billion ($56.2 million) for 3Q23, a 19.4 percent decrease from 2Q23 and a slight 1.3 percent decline on a year-on-year basis.
