Kangwon Land, Korea’s only casino accepting local patrons, has announced that it is planning to invest some KRW179.6 billion ($128 million) to construct a ‘second casino business site’, as part of its KRW2.5 trillion ($1.78 billion) new development plan.
According to a filing on Monday, this is ‘To create a more enjoyable gaming environment by addressing the issue of overcrowding in existing casino’.
The change will expand the group’s casino size to 20,260 square meters, from 14,512 m2, while increasing table numbers by 50 (to 250) and machine units to 1,610 (from 1,360).
The location is set as the B1,B2, ‘ground floors, etc’ of High1 Grand Hotel Main Tower. The construction period is between November of this year and December of 2027.
Kangwon Land received approval for the change from the Ministry of Culture, Sports, and Tourism on September 4th.
Equity capital for the project totals KRW3.67 trillion ($2.62 billion).
