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Kangwon Land plans $1.9 bln IR revamp

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South Korea’s Kangwon Land is planning to invest $1.9 billion in transforming its casino into a luxurious integrated resort.

This revamp includes a significant expansion of the gaming floor, addition of more hotels, construction of a sky bridge, and the integration of various leisure facilities.

According to G3 Newswire, CEO Choi Cheol-Gyu emphasized the expansion of the gaming floor to address the current shortage of seating, with plans to increase it from 15,486 square meters to 49,500 square meters.

The operator formed a Special Committee to gather opinions and insights from stakeholders, industry experts, and customers over the past three months. The Korean gaming company’s goals extend to 2032, aiming to revitalize the economy of abandoned mine areas and establish Kangwon Land as a global leader in integrated resorts.

Quantitative objectives include increasing non-casino sales, visitor numbers, employment, and foreign tourists.

Acting CEO Choi Cheol-kyu highlighted current challenges such as an unclear resort identity, lack of food and entertainment options, and attracting foreign tourists.

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