Kangwon Land has received approval from South Korea’s Ministry of Culture, Sports, and Tourism for an expansion of its casino facilities.
The permit allows for an increase in the casino’s general operating area from 14,512.68 square meters to 20,260.68 square meters, marking a substantial expansion of 5,748 square meters.
Kangwon Land, South Korea’s only casino permitted to operate for locals, disclosed the information in a filing to the Korea Stock Exchange on Thursday.
Alongside the increase in space, the number of gaming devices will also be augmented. The casino currently features 1,560 devices, including 200 tables and 1,360 machines.
Following the expansion, this number will rise to 1,860 devices, with 250 tables (an increase of 50) and 1,610 machines (an increase of 250). These upgrades are expected to enhance the gaming experience and attract more visitors.
The casino’s foreigner-only zone will also undergo changes. It will now accommodate both foreigners and permanent residents, thereby expanding the customer base. Additionally, betting limits in this zone will be significantly raised from the existing maximum of KRW300,000 ($224) to a new limit of KRW30 million ($22,400).
The company notes that, while the expansion has been approved, the exact completion date has yet to be determined. The number of gaming devices may be adjusted based on the operating environment at the time of the expansion.
Similarly, changes to the betting limits will depend on amendments to the Tourism Promotion Act Enforcement Rules, with further details to be announced once legislative revisions are completed.
