Fourth-quarter sales at Kangwon Land Inc, operator of the Kangwon Land complex (pictured), South Korea’s only casino open to locals, rose 5.9 percent year-on-year, to KRW344.34 billion (US$239.7 million). Judged sequentially, final-quarter sales fell 8.3 percent, the firm said in a Thursday filing to the Korea Exchange.
The group had already on Monday outlined its annual net income for 2024, which went up by circa 34 percent year-on-year, mainly due to a hike in non-operating income.
The latest update gave detail on trading in the final three months of 2024.
Fourth-quarter operating income went down 55.1 percent sequentially, to just under 41.77 billion, though it was up 4.9 percent year-on-year.
In the three months to December 31, net income rose 61.0 percent year-on-year, to KRW111.46 billion. Quarter-on-quarter, the improvement was 23.2 percent.
In early December, Kangwon Land Inc’s board authorised a “second casino venue” at the Kangwon Land complex via a KRW179.6-billion investment. The additional gaming space will provide an extra 50 tables and 250 gaming machines.
