The casino business in South Korea seems to be going well this year. This is because Kangwon Land Casino Profits Up arefor its First Quarter. Furthermore, according to online casino news, the profit went up by 13.3% from the same period last year.
In addition, the benefit in the three months to March 31 was KRW102.4 billion (US$86.5 million). This is in comparison to KRW90.4 billion in a similar period a year ago. Furthermore, the data comes from a document submission to the Korean Exchange that was done on Thursday. Thus, the firm says its first-quarter net benefit made by 437.8% in comparison to KRW19 billion a year ago.
Kangwon Land Casino Revenue Analysis
Working salary for the principal quarter this year fell somewhat by 0.7% percent year-on-year. According to sports wagering news websites, this amounts to roughly KRW125.1 billion.
South Korea presently has near 20 casinos, yet Korans are can only to bet at Kangwon Land gambling club resort. This is in an upland territory of Kangwon area – 150 kilometers (93 miles) from the nation’s capital Seoul.
The gambling club administrator said it had sales of almost KRW377.45 billion for the initial three months in 2019. However, these numbers mean that that company was down 0.3% from last year. In addition, it includes the gross gaming income of KRW329 billion which is 1.2% lower than the previous year.
Furthermore, the organization had a slight year-on-year decrease in the mass-showcase gaming section. However, it did see an increase in sales for its “Membership Club portion.
According to the filing, Kangwon Land’s deals in the mass table portion went down by 0.4% year-on-year to KRW163.9 billion. Furthermore, slot machine sales fell by 5.6 percent to KRW137 billion
The expense of offers for the organization in the detailing time frame added up to KRW180.6 billion, up by 5.1 percent year-on-year.