Kangwon Land Inc, operator of a tourism complex (pictured) with the only South Korean casino permitted to serve locals, saw its fourth-quarter sales reach just under KRW365.45 billion (US$256.0 million), up 6.0 percent year-on-year.
For full-year 2025, Kangwon Land Inc’s sales amounted to nearly KRW1.48 trillion, up 3.5 percent year-on-year, as disclosed b the company earlier this month.
The fourth-quarter numbers were disclosed in a Wednesday filing to the Korea Exchange. In an earnings deck, the firm said fourth quarter gaming sales accounted for most of overall sales, at KRW325.6 billion.
Gross gaming revenue (GGR) from mass tables in the three months to December 31, was KRW161.0 billion, up 8.6 percent from the prior-year period. Membership Club GGR – a local term for top players – was KRW58.0 billion, up 7.2 percent year-on-year. Fourth-quarter slot machine GGR was KRW138.3 billion, a 5.6 percent gain from the final quarter of 2024.
Quarterly operating income to December 31 was just under KRW29.70 billion, a fall of 30.5 percent from a year earlier.
Fourth-quarter net income attributable to shareholders of the parent company tallied almost KRW66.02 billion, down 41.2 percent year-on-year.
Kangwon Land’s fourth-quarter net-profit margin fell 11.3 percentage points sequentially, to 18.1 percent.
The tally of casino visitors in the final quarter was 617,907, up 7.3 percent year-on-year, but down 6.5 percent quarter-on-quarter. The tally of foreign visitors to the casino was 8,055 in the final quarter, up 12.7 percent year-on-year and up 13.4 percent sequentially.
Kangwon Land Inc has budgeted KRW126.4 billion in operating investment in 2026, for “casino VIP floor renovation; second casino construction; resort room renovation and improvements; and gaming equipment replacement”.
In August Kangwon Land Inc issued images of its plans for an under-construction new building, including a second casino.
