Gross gaming revenue (GGR) was up by 51.5 per cent year-over-year.<\/p>\n\n\n\n\n\n\n\n
South Korea.- The South Korean casino\u00a0Kangwon Land\u00a0<\/strong>has reported a net profit of KRW37.55bn (US$28.8m) for the second quarter of the year. The figure was up 79.6 per cent year-on-year. Gross gaming revenue (GGR) came in at KRW308.80bn, up 51.5 per cent when compared to Q2 last year.<\/p>\n\n\n\n Mass gaming tables contributed KRW140.10bn to second-quarter GGR, while slot machines contributed KRW133.60bn. Casino sales reached KRW311.52bn<\/strong>, up 37.3 per cent quarter-on-quarter and 53 per cent year-on-year.\u00a0Gaming sales were KRW280.10bn<\/strong>, up 52.4 per cent year-on-year and 45.7 per cent quarter-on-quarter.<\/p>\n\n\n\n In the three months to June 30, Kangwon Land generated an operating profit of KRW69.95bn, up from KRW2.70bn in Q2 2021 and up 564.3 per cent quarter-on-quarter. According to Kangwon Land’s website, the company received 492,971 visitors during the reporting period, up 147.2 per cent year-on-year. Most of Kangwon Land’s visitors were locals.<\/p>\n\n\n\n In May, the casino operator returned to\u00a0its normal capacity limit<\/a>\u00a0after months of restrictions due to the Covid-19 pandemic. From April 18, the company was also allowed to\u00a0extend its operating hours<\/a>\u00a0to its pre-pandemic opening times of 10am to 6am.\u00a0<\/p>\n\n\n\n As previously reported by Focus Gaming News, Kangwon Land <\/strong>is reviewing other potential business opportunities and could launch its own slot machine manufacturing plant in Taebaek, Gangwon-do, where the operator is located.<\/p>\n\n\n\n Kangwon Land already has its own line of branded slot machines that are available on dedicated casino floors across Asia. Last year, the company signed a deal with game developer Flysher to distribute its slot machines in the North American market.<\/p>\n\n\n\n Asian Gaming Brief has reported that Lee Sang-ho<\/strong>, the Mayor of Taebaek, met with Kangwon Land\u2019s CEO to discuss regional cooperation projects.<\/p>\n","protected":false},"excerpt":{"rendered":" Gross gaming revenue (GGR) was up by 51.5 per cent year-over-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 significant Q2 net profit of KRW37.55bn, up 79.6% YoY, with GGR increasing 51.5% to KRW308.80bn, driven by mass gaming tables and slots. The South Korean casino saw a 147.2% surge in visitors following the lifting of COVID-19 restrictions. Strategically, Kangwon Land is exploring launching its own slot machine manufacturing plant and has expanded its branded slot distribution to North America via a deal with Flysher.","focusai_entities":"Kangwon Land, Flysher, Lee Sang-ho, Focus Gaming News, Asian Gaming Brief","focusai_location":"South Korea, Taebaek, Gangwon-do, North America, Asia","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), operator_casino (0.9), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Slot Manufacturing Strategy","query":"What is the projected CapEx and timeline for Kangwon Land's proposed slot machine manufacturing plant, and how will this impact its existing B2B supplier relationships?"},{"label":"North American Market Penetration","query":"What specific market entry strategies and regulatory hurdles does Kangwon Land anticipate for its branded slot machines in the North American market, following the distribution deal with Flysher?"}],"footnotes":""},"categories":[157,16338,158],"tags":[16471,23907],"class_list":["post-32759","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\/32759","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=32759"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32759\/revisions"}],"predecessor-version":[{"id":32762,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32759\/revisions\/32762"}],"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=32759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Kangwon Land may build slot machine manufacturing plant<\/h2>\n\n\n\n