{"id":777025906,"date":"2025-04-30T09:47:07","date_gmt":"2025-04-30T12:47:07","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777025906"},"modified":"2026-04-21T23:26:05","modified_gmt":"2026-04-22T02:26:05","slug":"kangwon-land-reports-q1-results","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/kangwon-land-reports-q1-results","title":{"rendered":"Kangwon Land reports Q1 results"},"content":{"rendered":"\n

Sales were down 0.6 per cent year-on-year.<\/p>\n\n\n\n\n\n\n\n

South Korea.- Kangwon Land <\/strong>has shared its financial results for the first quarter of 2025. The casino operator posted sales of KRW365.8bn (US$239.7m)<\/strong>, up 6.2 per cent in quarter-on-quarter terms<\/a> but down 0.6 per cent year-on-year<\/a>. Non-gaming sales accounted for KRW49bn (US$32.11m), down 5.7 year-on-year but up 18.6 per cent sequentially. Gaming sales were KRW316.8bn (US$207.59m), up 0.2 per cent year-on-year and up 4.6 per cent compared to the previous quarter.<\/p>\n\n\n\n

The company\u2019s gross gaming revenue (GGR) was down 0.5 per cent year-on-year but up 3.3 per cent quarter-on-quarter at KRW344.4bn (US$225.68m). Mass table GGR was down 0.5 per cent year-on-year to KRW160.4bn (US$105.11m) while slot machine revenue was down 2 per cent to KRW135.3bn (US$88.66m). VIP Membership Club GGR grew by 4.2 per cent in year-on-year terms to KRW48.7bn (US$31.91m).<\/p>\n\n\n

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\"Photo
Kangwon Land.<\/figcaption><\/figure>\n<\/div>\n\n\n

Net profit increased by 75.4 per cent year-on-year and 2.5 per cent quarter-on-quarter to KRW77.7bn (US$53.4m). Net income from continuing operations before tax was KRW101.2bn (US$69.8m), down 26.5 per cent sequentially and down 17.8 per cent year-on-year. Net profit was KRW78bn (US$54m), down 31.1 per cent sequentially and down 16.9 per cent in year-on-year terms.<\/p>\n\n\n

\n\t\t\tSee also:<\/span><\/p>\n
\n\t\t\t\t<\/p>\n

\n\t\t\t\t\tSee also:<\/span> Macau GGR rises slightly in March<\/a>\n\t\t\t\t<\/p>\n<\/p><\/div>\n<\/p><\/div>","protected":false},"excerpt":{"rendered":"

Sales were down 0.6 per cent year-on-year.<\/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 reported its Q1 2025 financial results, with overall sales down 0.6% year-on-year and gross gaming revenue (GGR) declining by 0.5% YoY. Despite these top-line decreases and a significant drop in net income from continuing operations before tax, the operator reported a substantial 75.4% year-on-year increase in net profit.","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":"Net Profit Discrepancy","query":"Given the reported decline in GGR and pre-tax income from continuing operations, what specific non-operating factors or accounting adjustments explain Kangwon Land's significant year-on-year net profit increase?"},{"label":"Gaming Vertical Performance","query":"How does the divergent performance across gaming verticals (mass table, slots, VIP Membership Club) impact Kangwon Land's long-term revenue diversification strategy and operational focus?"}],"footnotes":""},"categories":[16338,163],"tags":[29,24715,152],"class_list":["post-777025906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-casino","tag-gaming-sales","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025906","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=777025906"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025906\/revisions"}],"predecessor-version":[{"id":777025933,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777025906\/revisions\/777025933"}],"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=777025906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777025906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777025906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}