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Kangwon Land to distribute dividend after returning to profit in 2022

South Korea’s only local-welcoming casino Kangwon Land is offering its first stock dividend in two years, for 2022, announcing to the Korean stock exchange that it would pay out some KRW70.95 billion ($53.73 million).

The figure amounts to a dividend yield of 1.5 percent based on the current market price, at KRW350 ($0.02) per share.

The dividend is still subject to shareholder approval on March 29th.

The group in the 2022 achieved a 59.2 percent increase in gaming sales, topping KRW1.11 trillion ($840.59 million), with its casino bringing in KRW612.4 billion ($436.69 million).

Net profit for the period was KRW115.6 billion ($87.53 million), up 1,192 percent yearly.

South Korea’s self-proclaimed largest casino, Kangwon Land operates 200 game tables and 1m360 slot machines at its casino in the Gangwon province. 

In January, it announced it would also be supplying gaming machines to the Philippines, in its first foray outside of Korea.

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The AGBrief Editorial Team is a group of contributors living around the world that are connected to Asia Gaming Brief. They are active members in pursuing the sources of our news, making them reliable and accurate for our readers.

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