Kangwon Land Inc is to expand its casino floor area from 14,053 to 15,486 square metres.
South Korea.- The South Korean casino Kangwon Land has confirmed that it plans to expand its casino floor space by more than 10 per cent, from 14,053 square meters (151,265 square feet) to 15,486 square meters. Dates have not yet been confirmed.
The resort plans to increase the total seating capacity of its restaurants and bars by 71.4 per cent, from 140 to 240 seats.
The company said a board meeting had approved KRW28.4bn (US$23.7m) to be set aside for “expansion and remodelling” of the venue, but did not specify whether all of it would be allocated to casino facilities.
In 2021, Kangwon Land accounted for nearly 66 per cent of the KRW1.18tn (US$975.39m) of casino revenue generated by South Korea’s 17 casinos, according to provisional figures recently released by the Ministry of Culture, Sports and Tourism. Gaming revenue in 2021 was just under KRW774.9bn, up 74.7 per cent when compared to the KRW443.6bn recorded in 2020 but down 47.7 per cent from KRW1.48tn in 2019.
At a Friday meeting of the Kangwon Land Inc board, it was also announced the casino venue will continue to operate on a limited basis until February 20. It is currently welcoming a maximum of 3,000 guests daily.
The casino operator also added its gaming venue will continue operating at reduced hours from 10am to 10pm every day as authorities have decided to extend Covid-19 countermeasures.