South Korea – A casino establishment in South Korea, Kangwon Land Casino, has released figures for its annual net profit and operating income and has experienced a rise in both areas.
The positive results show that for the twelve months to the end of December 2019, Kangwon Land Casino’s net profit rose almost fifteen percent at 12.7 and had an operating income of near seventeen percent.
Kangwon Land Casino, is the biggest casino in South Korea and is the only legal gambling venue where citizens are able to gamble by law.
The casino offers a wide variety of gaming options including blackjack, baccarat and roulette along with nearly 500 slot machines. Adults over the age of 19 can attend the casino but must provide identification as proof of age before being allowed entry.
Kangwon Land Casino said that the latest figures are a result of stronger sales and lower expenses compared with the previous year.
Although the casino is the only legal casino for South Korean nationals, it welcomes thousands of tourists each year.
In 2018, South Korea witnessed a rise in tourism figures as more people flocked to the East Asian country than in any other year in the last 15 bar one.
The country that neighbours North Korea, of which it shares a border, sees thousands of visitors per year, many of whom are avid gambling enthusiasts. The most popular locations that travel to South Korea include China, Japan, Taiwan, USA and Hong Kong.
In addition to the annual figures released today, Kangwon Land Casino also said that its fourth quarter net profits had risen year on year compared with 2018.