Kangwon Land, the operator of Kangwon Land, the only casino in the country that is allowed to accommodate domestic players, saw its parent company's net profit fall 19.4 percent quarter-on-quarter.
Those gains in the three months to Sept. 30 were nearly 73.76 billion won (US$56.3 million), compared with 91.5 billion won in the second quarter, according to data submitted to the Korea Exchange on Wednesday. The third-quarter figure was down 1.3% from a year earlier.
Kangwon Land's third-quarter revenue rose 12.9% sequentially to 373.96 billion won. However, compared to the same period last year, sales fell 5.9%.
Casino gross gaming revenue (GGR) rose 9.2% sequentially to 349.5 billion won in the third quarter, but fell 7.7% from a year ago, according to a separate earnings release released on Wednesday.
MassTable GGR for the three months to Sept. 30 was 165.8 billion won, up 4.7% quarter-on-quarter but down 2.9% year-on-year.
The company's other gaming arm, "Membership Club," posted a sequential increase of 58.3% to W42.1 billion, but a 28.9% decrease compared to the third quarter of 2022.
Slot machine GGR rose 4.7% quarter-on-quarter to 141.6 billion won, but declined 5.0% year-on-year.
The number of visits to Kangwon Land's casino in the September quarter was 642,362, up 11.5% from the previous quarter. Most of the visits were made by Koreans.
Kangwon Land's net profit for the January-September period of 2023 was 266.79 billion won, up 13.6% from a year earlier, just over 1.6 trillion won in sales.
BY: 릴게임사이트