Total revenue in the first three months of 2015 was up 14% to a record KRW 425.4b (US $388.4m). Of this, 93% came from gaming, which rose 15% to KRW 96b while non-gaming revenue inched up 4.4% to KRW 29.7b. Net profit rose 24.9% to KRW 132.2b ($120.7m).
Kangwon Land is unique among South Korea’s 17 casinos in that it’s the only one that accepts South Korean gamblers. Despite its remote mountainous location roughly 200km from Seoul, the property generated revenue of KRW 1.4t in 2014, more than the other 16 foreigners-only casinos combined.
Kangwon Land’s individual metrics were up across the board in Q1, including a 14.5% gain in table drop. Membership Club revenue was up 14.2% to KRW 73.8b, while mass tables rose 9.9% to KRW 184b and slots rose 23.5% to KRW 138.9b. Total visitors during the quarter were up 7.5% while international visitors rose 10.9%.