Kangwon Land, South Korea’s only casino open to locals, is going for the home run. It’s committing close to $1.9 billion to a makeover into an international resort. The plan is to add more non-gaming attractions and an expanded casino floor.
The resort town covers the entire province of Gangwon, 150 km from Seoul, with two hotels, a water park, a ski resort, and a golf course. That’s not all, though. The expansion also includes tripling high-end restaurants and building bigger venues for international events like K-pop concerts. The shopping district will get a facelift, too.
Kangwon Land also wants to hike the nongaming revenue from 13% to 30% by 2032, in keeping with the wider trend in the casino world of diversifying in all ways so as to attract a wider crowd. Vegas and Macau have been doing this for years, and it really has paid off in spades.
The gaming floor has been jacked up 30% to 49,500 square meters while the betting limit for foreigners has also been upped from 300,000 Won to 30 million Won. A clear play for international high-rollers especially those who have soured on Macau due to new regulations.
The resort is only 150 kilometers from Seoul, and with its combination of gaming and non-gaming attractions, it has managed to seal the position of one of the strongest players in the rapidly emerging Asian IR market.
And since hotshots are now shopping for new hangouts, well, Kangwon Land is positioning itself for some action. The government of South Korea is behind the project, hopeful it would bring additional tourist flow and improve the local economy.
All this is much more than just gaming, it’s presenting a destination standing shoulder-to-shoulder with the big boys in Vegas, Macau, and Singapore. With online gaming continuing to grow, sites such as those recommended by Techopedia KR are making ways for players to bridge the gap better than ever between the digital and physical worlds. These sites are safe as they are licensed by a reputable regulatory body, giving players another option if they don’t live near Kangwon.
The good move speaks to the growing future of the casino industry, by offering a nice mix of attractions, they’re rolling the dice that they can spend some bet ’em, too. The larger casino floor and raised bet limits reveal they’re not that concerned with gaming, but the non-gaming amenities focus is a far more deeper approach to entertainment.
The success of this project will have results throughout the Asian casino concept. If Kangwon Land can pull it off, it might just start setting a new standard for the region’s integrated resorts. That’s one very high-stakes game, but with some great support from the South Korean government, and a concrete plan in place, the possibility of Kangwon Land making its mark on the global entertainment scene is very possible.
