{"id":14759,"date":"2021-02-16T14:57:27","date_gmt":"2021-02-16T14:57:27","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=14759"},"modified":"2026-04-23T21:47:36","modified_gmt":"2026-04-24T00:47:36","slug":"kangwon-land-reports-us250m-loss-for-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/kangwon-land-reports-us250m-loss-for-2020","title":{"rendered":"Kangwon Land reports US$250m loss for 2020"},"content":{"rendered":"\n<p>Sales fell 68.5 per cent year-on-year at the only casino in South Korea where nationals are allowed to gamble.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South Korea.- The same day that Kangwon Land <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/kangwon-land-opens-after-two-month-closure\" target=\"_blank\"><strong>announced its reopening<\/strong><\/a><\/em> after its latest closure due to Covid-19 countermeasures, the operator posted its full-year 2020 financial results.<\/p>\n\n\n\n<p>The South Korean casino has reported <strong>an adjusted loss of KRW275.88bn (US$249.7m)<\/strong>, aided by lower operating expenses.<\/p>\n\n\n\n<p><strong>Sales for the full year fell 68.5 per cent year-on-year<\/strong> to KRW478.58bn (US $ 433.2m).<\/p>\n\n\n\n<p>Sales for the last quarter were KRW131.32bn (US$118.9m), <strong>down 64.8 per cent year-on-year<\/strong> but up from KRW76.62bn (US$69.3m) in Q3. <\/p>\n\n\n\n<p><strong>In 2019, the company reported a profit of KRW334.65bn (US$302.9m),<\/strong> meaning 2020 saw a downturn to the tune of KRW610.53bn (US$552.6m).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales fell 68.5 per cent year-on-year at the only casino in South Korea where nationals are allowed to gamble.<\/p>\n","protected":false},"author":176,"featured_media":14765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Kangwon Land, South Korea's sole casino permitting national play, reported a 68.5% year-on-year sales decline and an adjusted loss of KRW275.88bn (US$249.7m) for 2020. This significant downturn, reversing a 2019 profit, is attributed to extended closures due to COVID-19 countermeasures, despite lower operating expenses.","focusai_entities":"Kangwon Land","focusai_location":"South Korea","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Kangwon Land Recovery Strategy?","query":"What specific operational and market diversification strategies is Kangwon Land implementing to mitigate future revenue volatility and accelerate recovery post-COVID-19, particularly given its unique domestic monopoly status?"},{"label":"Regulatory Impact on GGR?","query":"How will the South Korean regulatory framework evolve to support the long-term financial stability of Kangwon Land, considering the significant GGR decline and the potential for future public health-related operational restrictions?"}],"footnotes":""},"categories":[157,16338,158],"tags":[16471,23907],"class_list":["post-14759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-kangwon-land","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=14759"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14759\/revisions"}],"predecessor-version":[{"id":14802,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/14759\/revisions\/14802"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14765"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=14759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=14759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=14759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}