Kangwon Land exports slot machines to the Philippines... "First overseas sale"

Contract Signed Between RGB and 30s Slot Machine Distributor in Manila
Self-Produced in Taebaek, Gangwon... "Opening the Southeast Asian Market"

Lee Sam-geol, CEO of Kangwon Land (left), and Steven Lim, COO of RGB, are posing for a commemorative photo at the slot machine sales contract signing ceremony held on the 12th at the Sheraton Manila Bay Hotel in Manila, Philippines.
[Photo by Kangwon Land]

Kangwon Land will officially export slot machines produced in Taebaek, Gangwon Province, to the Philippines.

Kangwon Land announced on the 12th that it signed a slot machine sales contract with RGB, the largest slot machine distributor in Southeast Asia, at the Sheraton Manila Bay Hotel in Manila, Philippines.

Under this contract, Kangwon Land will supply a total of 30 slot machines to a casino located in the Philippines through RGB. The contracted slot machines will be manufactured at the Taebaek site by February and installed in the Philippines by April.

This contract marks Kangwon Land's first official overseas sale since entering the slot machine manufacturing business in February 2017. Kangwon Land evaluated that this deal establishes a foothold for full-scale entry into the Asian market, overcoming the slump caused by the COVID-19 pandemic.

Since 2019, Kangwon Land has built an overseas sales network for the 'KL Saberi' slot machine by signing a supply contract with RGB to enter the overseas market, and has supplied a total of 38 slot machines to five casinos in the Philippines on a trial basis. The trial contract involves operating new machines at the casino for a certain period as a pilot, and if the marketability is deemed high, a formal contract is signed.

Lee Sam-geol, CEO of Kangwon Land, said, "This signing ceremony is a meaningful occasion commemorating Kangwon Land's first overseas slot machine sale since starting the machine development business," adding, "Slot machine manufacturing is a highly promising business with many advantages such as fostering related domestic small and medium-sized enterprises, creating local employment, and earning foreign currency. We plan to focus on nurturing it as Kangwon Land's future growth engine."

Kangwon Land stated that since starting the slot machine manufacturing business, it has self-supplied 260 machines to Kangwon Land casinos, creating a cost-saving effect of 8.2 billion KRW by replacing imports. Additionally, it sold six machines to Daegu Golden Crown Casino in 2019 and supplied 13 machines to Grand Korea Leisure (GKL).

This content was produced with the assistance of AI translation services.