Kangwon Land, the operator of South Korea’s Kangwon Land casino resort, has recommended a final dividend of KRW1,170 ($0.81) per share for the year ending December 31st, 2024, the company announced on Friday.
This proposed dividend represents a payout ratio of 7.3 percent, based on the current market price of the company’s stock.
The total dividend for the full year 2024 is estimated at KRW234.47 billion ($162 million), according to a filing with the Korea Exchange.
The payout is contingent on approval at the company’s shareholder meeting scheduled for March 26th. If approved, the dividend is expected to be distributed on April 4th.
Kangwon Land, the only casino operator in South Korea allowed to serve local players, has recently expressed plans to shift focus towards marketing to foreign visitors as well.
For the full year 2024, Kangwon Land reported a net income of KRW455.38 billion ($316 million), marking a 33.6 percent year-on-year increase. Sales also saw a modest rise of 2.8 percent, reaching KRW1.43 trillion ($1.06 billion), up from KRW1.39 trillion ($1.03 billion) in the previous year.
Implemented responsible gaming program
Meanwhile, according to local media, The Korea Bizwire, Kangwon Land has recently launched the K-GREEN responsible gaming program, aimed at promoting healthier gambling habits.
Fully implemented on March 5, the system builds on a trial run since October 2024 and emphasizes prevention through education, rather than intervention.
First-time visitors must complete a guided journey through the casino, starting at the ticket desk, passing through the Mind Healing Center, and practicing in a special gaming zone before playing.
“As Korea’s only casino for domestic citizens, we are committed to balancing regulatory changes with strong responsible gaming practices,” said acting CEO Choi Cheol-kyu. The K-GREEN system is the first comprehensive visitor protection initiative in South Korea’s gambling industry.
