{"id":17765,"date":"2021-05-11T16:11:04","date_gmt":"2021-05-11T16:11:04","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=17765"},"modified":"2026-04-23T19:39:49","modified_gmt":"2026-04-23T22:39:49","slug":"kangwon-land-sales-down-58-7-in-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/kangwon-land-sales-down-58-7-in-q1","title":{"rendered":"Kangwon Land sales down 58.7% in Q1"},"content":{"rendered":"\n

Kangwon Land has reported a net loss of KRW40.9bn (US$36.6m) for the first quarter of the year.<\/p>\n\n\n\n\n\n\n\n

South Korea.- The South Korean casino\u00a0Kangwon Land<\/a>\u00a0has reported\u00a0that sales during the first quarter of the year reached KRW97.4bn<\/strong>, down 58.7 per cent when compared to the KRW236bn seen in the same period last year.<\/p>\n\n\n\n

Sales were also down 25.8 per cent from the last quarter of 2020<\/strong>, mainly due to a Covid-19 lockdown during the first part of the year.<\/p>\n\n\n\n

Kangwon Land<\/a>\u00a0was allowed to\u00a0reopen its doors on February 15\u00a0<\/strong>but continues to be affected by the lack of tourists as it only received 82,217 visitors, mostly locals. Visits were down 79.9 per cent compared to the first quarter of 2020.<\/p>\n\n\n\n

Kangwon Land\u00a0gaming sales reached KRW85.4bn<\/strong>, which represents a decline of 57.3 per cent from KRW200bn in the same period last year, while GGR from mass tables was KRW38bn, down 62.7 per cent year-on-year.<\/p>\n\n\n\n

As for slot machine GGR,\u00a0<\/strong>Kangwon Land has reported KRW32.6bn in revenue for the first quarter, down 62.7 per cent from the same period in 2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kangwon Land has reported a net loss of KRW40.9bn (US$36.6m) for the first quarter of the year.<\/p>\n","protected":false},"author":176,"featured_media":17776,"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 reported a net loss of KRW40.9bn (US$36.6m) for Q1, with total sales plummeting 58.7% year-on-year to KRW97.4bn. This significant decline is primarily attributed to a Covid-19 lockdown and the subsequent lack of international tourism, despite the casino's reopening in mid-February. Gaming verticals, including mass tables and slot machines, experienced GGR reductions exceeding 57%.","focusai_entities":"Kangwon Land","focusai_location":"South Korea","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q2 Recovery Projections?","query":"What are Kangwon Land's projected operational recovery timelines and financial outlook for Q2 and H2, considering the ongoing impact of international travel restrictions and domestic public health measures?"},{"label":"Diversification Strategy?","query":"How is Kangwon Land adapting its business model or exploring diversification strategies to mitigate reliance on international tourism and enhance resilience against future market disruptions?"}],"footnotes":""},"categories":[161,16338,163],"tags":[16471,23907],"class_list":["post-17765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news","category-east-asia-news","category-finance-news","tag-kangwon-land","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17765","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=17765"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17765\/revisions"}],"predecessor-version":[{"id":17782,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/17765\/revisions\/17782"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/17776"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=17765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=17765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=17765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}