South Korea's Kangwon Land Eyes Expansion with New Casino Project
South Korea's Kangwon Land, the nation's sole casino where local residents are permitted to gamble, has unveiled plans for a significant expansion with the development of a second casino facility. The project forms part of a broader initiative valued at KRW2.5 trillion (US$1.9 billion) aimed at enhancing the existing complex and diversifying its offerings.
The Kangwon Land casino complex in South Korea. (Source: Kuki News)
LISTEN TO THIS ARTICLE:The new casino facility will require an investment of KRW179.6 billion (US$128 million), representing 4.88% of the company’s equity capital. Spanning 16,161 square meters, the planned venue will be housed across multiple floors of the High1 Grand Hotel Main Tower.
Related: South Korea's Only Casino Open to Locals to Get $1.8B ExpansionThis expansion is designed to address the issue of overcrowding at the current casino, creating a more accommodating and enjoyable environment for patrons. Construction is scheduled to commence this month, with completion targeted for December 2027.
The development of the second casino is a critical component of Kangwon Land's larger strategy to enhance its capacity and broaden its appeal. Once operational, the additional facility is expected to triple the gaming area's overall capacity.
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This includes the addition of exclusive VIP rooms, with helicopter services planned to transport high-value customers from both domestic and international locations. A sky bridge will connect the new casino to the High1 Ski and Golf Resort, ensuring seamless accessibility for visitors.
In line with this expansion, Kangwon Land has received regulatory approval to increase the number of gaming tables from 200 to 250 and the number of gaming machines from 1,560 to 1,860. Betting limits within foreigner-only gaming zones will also be significantly increased from KRW300,000 to KRW300 million, aiming to attract higher-stakes gamblers.
Beyond the new casino, the larger expansion project encompasses a range of leisure and hospitality enhancements. Plans include the construction of a new hotel, a wellness center, luxury pool villas, and upgraded walking trails around the complex. These developments aim to position Kangwon Land as a comprehensive entertainment destination, appealing to both gamblers and leisure travelers.
The timing of this investment reflects Kangwon Land’s efforts to remain competitive in the face of emerging regional challenges. A key driver for the expansion is the anticipated launch of MGM RResorts'$10 billion integrated resort in Osaka, Japan, scheduled to open in 2030. The Japanese development is expected to draw significant attention from international tourists, prompting Kangwon Land to enhance its offerings to retain its market share.
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