May 10, 2023 2:46 PM
Kangwon Land, the only casino in South Korea at which locals are permitted to gamble, reported a 59.2% increase in gaming revenue to KRW306 billion (US$231 million) in the March 2023 quarter, led by gains in the mass market segment. Casino sales were also 4.0% higher than in 4Q22, helping push consolidated sales to KRW358.1 billion (US$271 million).
According to the company’s Q1 financials, mass tables were the primary contributor with gross gaming revenue of KRW167.6 billion (US$127 million), up 78.9% year-on-year. Slot machine revenue also grew by 57.2% to KRW38.7 billion (US$29.2 million) although Membership Club GGR fell by 2.3% to KRW30.4 billion (US$23.0 million).