Kangwon Land, the only Korean casino where locals can gamble, has signed a content development deal with online games publisher Neowiz. Together they will create both slot machine and online social gaming content.
According to Inside Asian Gaming, the two companies will implement an “O2O” (online to offline) business model to help gauge market response to new products.
“If we focus on creating synergies based on the capabilities accumulated by the two companies, we will be able to create market-leading services,” said Neowiz Co-CEO Moon Ji-soo. “We will continue to strengthen our joint business model through organic cooperation with Kangwon Land.”
In March, Neowiz was granted rights to use the content of slot machines developed by Kangwon Land’s slots brand, KL Saberi, on its platforms for a period of five years. KL Saberi sells its products to casinos across Korea and Asia.
In related news, the South Korean government recently confirmed the extension of Kangwon Land’s casino license for 20 years, until 2045. Legislation in 1995 encouraged redevelopment of abandoned mining areas, which led local, provincial and national authorities to found Kangwon Land Inc., which is 51 percent government owned and overseen by the national Ministry of Knowledge Economy.
