Content Writer: Janice Chew • Wednesday, 25/11/2025 - 21:22:35 - PM
Kangwon Land Inc., the South Korean casino-resort operator that runs the only casino in the country open to locals, reported its third-quarter results showing some revenue improvement but with notable pressure on operating profit. According to one report, net profit for the quarter rose 24.1% year-on-year to approximately KRW 112.29 billion (US$ 78.1 million).
Gaming revenue (casino sales) for the three months to September reached KRW 333.7 billion, up 4.2% year-on-year, while the amount of chips dropped (a proxy for gaming volume) increased 6.9% year-on-year to KRW 1.60 trillion. Non-gaming revenue fell by 9.4% year-on-year to KRW 50.0 billion, though it jumped 71.2% from the previous quarter.
However, on the operating profit front, the situation was less favourable: operating profit for Q3 was reported at KRW 72 billion, which is down 22.7% from a year earlier.
Kangwon Land’s results reflect a complex picture. The uptick in gaming revenue shows momentum, aided by higher volumes, but the drop in operating profit signals cost pressures or margin erosion. The decline in non-gaming revenue also suggests that diversification away from pure gaming is still a challenge.
