The only South Korean casino open to locals will expand after directors agreed to invest almost US$24 million in renovations. On February 4, officials at Kangwon Land approved an investment of KRW28.4 billion (US$23.7 billion) for the expansion with design costs of KRW1.2 billion (US$1 million).
The casino floor will be increased by 10 percent to 15,486 square meters (167,000 square feet), with 100 new gaming positions. According to local media, the current floor is about 60 percent of the size of some foreigner-only casinos, though it generates half of Korea’s annual GGR.
As reported by Inside Asian Gaming, the goal is to “improve ease of movement around the property.” The casino also hopes to reopen gaming tables closed by the Covid-19 pandemic.
“We expect that the reinstallation of 32 table games that are not operating in accordance with the Covid-19 quarantine guidelines will help normalize casino business as well as prevent the spread of the new coronavirus infection [by] maintaining distance between guests,” an official said.
Last year, the South Korean government agreed to extend Kangwon Land’s gaming license to 2045 in return for adjustments to its tax rate.
