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작성일 : 23-12-22 14:06
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Kangwon Land Holdings Holds Hopes Despite Challenges
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글쓴이 :
Nannette (69.♡.0.237)
 조회 : 969
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In the past it was the only casino that was open to Koreans in the alpine resort of South Korea of Kangwon Province was a magnet for players from Seoul and across the nation. In the peak times gamers gathered around the baccarat and blackjack tables to bet on the hands of others. The scene was not too unlike the back-betting mania which characterized Macau under Stanley Ho's monopoly.
But with domestic gambling addiction rates rising and strict laws limiting local gaming, Kangwon Land has been required to expand its operations. The property is home to an indoor ski resort and a conference centre and a golf club and a hotel. The company is also constructing a waterpark to complete the year-round fun for families. The company is also imposing stricter restrictions for visitors from within the area, and requiring identification and charging them an entry fee to discourage compulsive gambling.
Local brokerages are hopeful regarding Kangwon Land despite the challenges. KB Securities expects 3Q earnings to see a strong rebound thanks to the relaxation of social distancing laws and operating hours cuts. IBK Securities sees a similar improvement, with the company's non-gaming sales growing at more than double the pace of the previous quarter.
The company's CEO, Lee Sam-kul believes that a healthy Kangwon Land needs to develop new business models that can change the perception of the public of the mountainous area that is known as "the Alps of Korea." It will be necessary to step up forest-related therapeutic and healing programs, establishing tourist destinations that are historically significant and encouraging international business expansion.
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