Kangwon Land Reports Operating Profit of 75.9 Billion KRW in Q1, Up 8.9% YoY

Sales of 368.4 Billion Won, 2.9% Increase

Kangwon Land Headquarters
Photo by Kangwon Land

Gangwon Land announced on the 8th that its consolidated operating profit for the first quarter of this year was tentatively estimated at 75.9 billion KRW, an 8.9% increase compared to the same period last year. Sales reached 368.4 billion KRW, up 2.9% year-on-year, while net profit decreased by 8.5% to 92.9 billion KRW.

Specifically, casino sales recorded 316.2 billion KRW, a 3.3% increase compared to the same period last year. The number of casino visitors was 604,603, down 3.2%. Among the visitors, foreigners numbered 5,787, an increase of 4.9% year-on-year.

Non-casino sales such as resorts, excluding condos and skiing, showed an overall decline in major businesses, increasing slightly by 0.1% to 52.2 billion KRW. Hotel sales fell by 5.7%, golf by 79.5%, and Water World by 4.5%.

Gangwon Land stated, "This year, we plan to invest a budget of 116.8 billion KRW in facility licensing fees, the creation of the Coal Mine Cultural Tourism Park, reinforcement of employee lodging facilities, expansion of casino operations, and improvement of resort facilities."

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