Content Writer: Janice Chew • Thursday, 26/01/2026 - 19:34:22 - PM
South Korea’s sole casino operator open to local citizens, Kangwon Land, is expected to generate sufficient revenue to help clear the remaining debt of the former state-run coal entity, even as the group faces a projected decline in net income for the current financial year.
Government-linked financial projections indicate that Kangwon Land’s operating performance remains strong enough to support repayments tied to the legacy liabilities of Korea Coal Corporation, with revenue levels forecast to exceed the threshold required to meet these obligations. The repayments form part of a long-running policy framework designed to transition regional economies away from coal dependency while leveraging Kangwon Land’s casino revenues as a stabilising funding source.
At the same time, Kangwon Land has guided that net income for FY2025 is expected to fall by around 30%, largely due to a sharp decline in non-operating income rather than weakness in its core casino or resort operations. Management has indicated that the year-on-year drop is primarily linked to lower one-off financial gains and reduced returns from investments, rather than deteriorating gaming demand.
Operationally, the company’s casino and resort business has remained resilient, supported by steady domestic visitation and gradual capacity normalisation. Analysts note that Kangwon Land’s core earnings profile continues to provide predictable cash flow, reinforcing its role as a key contributor to regional development funding despite fluctuations in headline profit figures.
Looking ahead, market observers expect Kangwon Land to maintain a cautious financial stance, balancing government policy responsibilities with commercial sustainability. While non-operating income may remain volatile, the company’s ability to generate stable gaming revenue is seen as critical both to clearing the remaining coal-related debt and to supporting longer-term reinvestment into its resort infrastructure.
