{"id":777013006,"date":"2024-02-08T10:15:39","date_gmt":"2024-02-08T13:15:39","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777013006"},"modified":"2026-04-22T13:12:18","modified_gmt":"2026-04-22T16:12:18","slug":"kangwon-land-posts-net-income-of-us260m-for-2023","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/kangwon-land-posts-net-income-of-us260m-for-2023","title":{"rendered":"Kangwon Land posts net income of US$260m for 2023"},"content":{"rendered":"\n<p>Net income was up 199 per cent in year-on-year terms.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South Korea.-\u00a0Kangwon Land, the only casino in South Korea that allows locals to enter, has shared its financial results for the year 2023. It posted <strong>a net income of KRW345bn (US$260m)<\/strong>, up 199 per cent when compared to the previous year.<\/p>\n\n\n\n<p>The company\u2019s<strong> sales revenues increased by 9.3 per cent year-on-year<\/strong>, reaching KRW1.39tn (US$1.04bn), with net income from continuing operations before income tax reaching KRW461bn (US$347m), up 175 per cent. Operating income was up 31.3 per cent in year-on-year terms to KRW286bn (US$215m).<\/p>\n\n\n\n<p>For the fourth quarter of 2023, the casino operator posted net income of KRW77.8bn (US$56.6m), up 5.2 per cent\u00a0<a href=\"https:\/\/focusgn.com\/asia-pacific\/kangwon-land-net-profit-down-19-4-in-q3\" target=\"_blank\" rel=\"noreferrer noopener\">quarter-on-quarter<\/a>\u00a0and up 746 per cent when compared to the previous year. Sales revenues were down 13 per cent quarter-on-quarter to KRW325.3bn (US$245m). Net income from continuing operations before income tax was up 7.9 per cent quarter-on-quarter to KRW105m (US$79.4m). The figure was also up 304 per cent in year-on-year terms.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net income was up 199 per cent in year-on-year terms.<\/p>\n","protected":false},"author":176,"featured_media":10168,"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 local patronage, reported robust financial performance for 2023, with net income surging 199% year-on-year to KRW345bn (US$260m) and sales revenues increasing 9.3% to KRW1.39tn (US$1.04bn). Q4 2023 also saw significant year-on-year net income growth, despite a quarter-on-quarter decline in sales revenues.","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":"Q1 Revenue Drivers","query":"What specific gaming verticals or non-gaming amenities primarily contributed to Kangwon Land's significant year-on-year revenue growth, particularly given its unique local access privilege?"},{"label":"Q2 Q4 Sales Decline","query":"What factors explain the 13% quarter-on-quarter decline in sales revenues for Q4 2023, and how does management project this trend will impact Q1 2024 performance?"}],"footnotes":""},"categories":[16338,163],"tags":[16471],"class_list":["post-777013006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-kangwon-land"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013006","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=777013006"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013006\/revisions"}],"predecessor-version":[{"id":777013025,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777013006\/revisions\/777013025"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/10168"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777013006"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777013006"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777013006"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}