Friday, March 31, 2023

Tag: South Korea

NOVOMATIC bolsters Kangwon Land casino estate

novomatic kangwon
NOVOMATIC has brought almost 70 of its best-in-class gaming installations to the Kangwon Land resort and casino in South Korea. The latest installation of 68 NOVOMATIC gaming machines at the Kangwon Land resort's casino affirms its international approach in terms of gaming technology and games on Korea’s only gaming floor. Set in the beautiful and breath-taking mountains of the Gangwon Province...

Regulatory changes make themselves felt in Kangwon Land’s Q2 results

Regulatory changes make themselves felt-1
Kangwon Land, South Korea’s only casino to accept local players, saw a 14 percent fall in net profit year on year for Q2 2018 as the impact of stricter regulations took its toll. The company reported that the net profit for the quarter…

Grand Korea Leisure reports casino revenue rise after turbulent two years

Grand Korea Leisure has announced its first half figures for casino sales in 2018 increased 4.1 percent year-on-year, topping $214m. The South Korean operator, affiliated by the country’s Ministry of Culture, Sports and Tourism through the Korea Tourism Organisation, stated table game sales rose 7.4 percent during the period, contributing $188m to the total. Machine game sales, however, declined during the...

Fitch: Japan a threat to Korea and Russia, but not Macau

  Financial analyst firm Fitch Ratings has predicted Japan’s future casino industry, which could be worth up to $9bn a year, is unlikely to have a detrimental effect on the Macau market.   However, the much anticipated establishment of up to five integrated resorts in Hokkaido, Osaka, Wakayama, and Nagasaki will reportedly cause problems for Japan’s more immediate neigh- bours. “Japan’s integrated resorts...

Interblock debuts table games in Korea at Golden Crown Casino Daegu

Golden Crown Casino Daegu korea interblock
Interblock has placed its first electronic table games in South Korea at Golden Crown Casino Daegu.   The installation is composed of a thirty-seat Stadium offering two live baccarat games and one automated roulette that provides players the opportunity to play up to three games simultaneously. “We are very proud to bring our first electronic table games to Korea with our unique...

South Korea’s casino industry hit by strained relations with China

south korea thaad
  In the face of deteriorating relations with China, what will the impact be on South Korea’s casino industry? Casino Review casts a furtive glance to the future.   Following the sad news of K-pop girl band Sistar’s disbandment this June, K-pop idol Soyou has released a cover version of Choi Sung Won’s 1988 hit, The Blue Night of Jeju Island. She’s not...

US missile system sinks South Korean casino revenue

paradise casino korea missile
South Korean casino operator Paradise suffered a 20.7 percent drop in its casino revenue year-on-year over the first six months of 2017, as the installation of a US missile system kept Chinese consumers at bay.   The operator’s four venues took KRW241.7bn ($209.4m) compared to KRW304.7bn in H1 2016, according to a report filed with the Korea Exchange on 5 July....

Takara expands Asian gaming market share with certification in South Korea

majestar south korea jeju Takara
Takara Gaming Group has received KTC approval in South Korea and signed gaming machine operation agreement with Futro Group at Majestar Casino, the biggest Korean casino on Jeju Island.   This latest venture opened up the market for Takara and its game manufacturers to participate in the expanding Asian gaming market. Raymond Chan, co-founder and CEO of Takara said, “Korea is a...

Sands eyes South Korea for next potential market-entry

Casino Review Busan
A senior executive at Las Vegas Sands has declared that the South Korean port-city of Busan is the company’s “priority consideration” for its next move in Asia.   The Las Vegas Sands Corporation has confirmed that it is still interested in expanding to South Korea, just days before the grand opening of its Parisian Macao Resort. In an interview with English-language news...

Mohegan Sun completes development deal for South Korean casino

Mohegan Sun South Korea
A consortium led by US casino operator Mohegan Sun has signed a land lease agreement with Incheon International Airport Corporation to build an integrated resort on Yeongjong Island in South Korea by 2020.   As previously reported in International Casino Review, Inspire Integrated Resort, a consortium by Mohegan Sun and South Korean chemical maker KCC Corporation, won a bid to build...

Revenue and profits surge at Grand Korea

South Korea, Seoul
A filing to the South Korean stock exchange from casino operator Grand Korea Leisure (GKL) saw the company report a 38 per cent like-for-like increase in net income to KRW25.6bn (E20.7m). The company’s gain in operating income for the quarter was even more impressive – jumping 44.8 per cent to KRW31.4bn (E25.5m). The result was largely the result of an unusually...

Iao Kun marks foray into brick-and-mortar casino operations

Jeju Sun Iao Kun Holding Company
After losing out on the bid to take control of the Savan casino in Laos earlier this year, VIP gaming room promoter Iao Kun Holding Company has signed a deal to purchase its first brick-and-mortar property. James Walker reports.   Macau junket operator Iao Kun Group Holding Company (IKGH) has announced that its whollyowned subsidiary, Iao Kun Jeju Hotel Company, has...

GKL and Paradise post decline, but Kangwon marches on

Grand Korea Leisure Company GKL
South Korea’s two major foreigner-facing casino operators had a tough start to 2016. But propped up by domestic attendance, the Kangwon Land weathered an all too familiar trend of falling Chinese visitation.   Latest financials from the South Korean casino operator Grand Korea Leisure Company (GKL) reported that net income was down 16.5 per cent for the first quarter of 2016,...

Asia – Round Up

Hoi An Asia Round Up tourist
In India, the tourist department of the state of Maharashtra is urging local government to draft legislation which would permit the operation of offshore casinos. The Maharashtra Tourism Development Corporation (MTDC) has advocated that casinos could lead to a substantial surge in tourist traffic. The Western state, whose coastline stretches over 700km along the Arabian Sea, currently permits lotteries...