HomeNewsSouth KoreaKangwon Land sees 60% yearly increase in GGR for 3Q22, profit of $55mln

Kangwon Land sees 60% yearly increase in GGR for 3Q22, profit of $55mln

November 11, 2022

South Korean casino operator Kangwon Land saw its gross gaming revenue (GGR) rise some 60.6 percent yearly during the third quarter, reaching KRW378.8 billion ($280 million), driven by increases across all gaming segments.

Mass table revenues rose by 84.3 percent annually, reaching KRW170.7 billion ($130 million), while slot machine revenue was up 63.4 percent year-on-year, to KRW149 billion ($110 million).

The group’s Membership Club revenue rose by 13.5 percent annually, to KRW59.1 billion ($44 million).

This was coupled with non-gaming revenue increases of 72.3 percent year-on-year, totaling KRW54.1 billion ($40 million).

Total sales during the quarter reached KRW397.6 billion ($290 million), up 62.1 percent annually, with the group’s net profit skyrocketing by 265.9 percent annually, to KRW74.7 billion ($55 million).

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