Kangwon Land Resort (pictured), the only Korean casino in Korea, explained to GGRA some of the steps it is taking to increase its appeal to foreign players, including potential upgrades to facilities and services for foreign players.
Last April, Kangwon Land Inc., the operator of the property, announced a new phase of 2.5 trillion won (currently $1.84 billion) that will triple casino space by 2032.
The resort earlier this year signed sales agency agreements with companies in Taiwan and the Philippines to target overseas markets.
GGRAsia recently visited the resort, which is located three hours east of the capital city of Seoul, to talk to a casino operator. The person asked not to be named in the story.
The manager said that "99.99 percent" of the real estate's revenue from gaming currently comes from local players, but he is looking to earn "one percent to two percent" of the "profit" from sources that may otherwise go to 17 foreign-only operators. Kangwon Land, in response to "government guidance on promoting foreign tourism," said the manager.
Kangwon Land's net profit in the first quarter was KRW 92.9 billion, up 26.0% year-on-year.
The resort has an existing "foreign" gaming area with eight tables: three baccaras, three blackjacks, one chicbo, and one roulette. It has no seats. The manager mentioned, "It has no admission fee. The local resident section of Kangwon Land Casino charges a W9,000 admission fee."
It added that the foreign zone has "no queues" to play on, unlike the average floor, which is "always full of locals."
Overall, the resort "operates 62 blackjack tables out of 180 game tables." That is, about a third of its stock. Compared to what the manager said, blackjack tables accounted for about 9 percent of the table games offered at foreigner-only casinos in Korea.
BY: 검빛경마