The coronavirus pandemic exacted a heavy toll on South Korean casino operators, and its ripple effects continue to affect the sector.
But domestic financial analysts are starting to talk about a recovery in bullish terms, calling casino stocks “overweight.”
Recent National Gambling Control Commission figures appear to back up their confidence. South Korea’s 17 foreign-passport-holder-only casinos welcomed almost 3.5 million visitors in 2025, marking a year-on-year rise of almost 19%.
Visitor figures also rose at the country’s largest betting venue, Kangwon Land Casino, the only casino with permission to admit domestic nationals.
But the rise was more modest: 4.5%.
As South Korea basks in a record-breaking inbound tourism boom, Kangwon Land wants a slice of the international tourism pie.
Officials say they are trying to move the needle in their favor.
“We are enhancing the environment at Kangwon Land with the aim of evolving into a globally competitive integrated resort,” Moon Chang-hoon, Head of Kangwon Land’s Global Marketing Team, told CasinoBeats. “We’re creating a foreigners-only casino zone, adjusting our betting limits, and introducing more services tailored to international guests.”
South Korean Casino Boom Incoming?
The vast majority of visitors to Kangwon Land Casino are domestic nationals, Moon explained.
By contrast, the proportion of foreign visitors remains relatively low, with just 1% of last year’s 2.45 million total hailing from overseas.
To this end, Moon said, the casino has launched a special lounge for international visitors, served by a direct bus link from Incheon, the city that houses the nation’s busiest airport, and the Seoul metropolitan area.
“It’s a layout that allows guests to enjoy special amenities, complimentary welcome refreshments, and the High1 resort’s facilities immediately upon arrival,” explained Moon.
International tourism is on the rise in Gangwon Province, with overseas visitor numbers growing by up to 20% a year. However, the mountainous eastern province remains off the beaten track for most international travelers, including casino punters.
In South Korea, Gangwon is famed for its ski resorts. High1, the complex that houses Kangwon Land Casino, has also positioned itself as a hub for ski fans.
This, officials say, could help it bolster gambling and non-gambling receipts. Moon said the lounge also assists skiers, providing multilingual booking services for piste lessons.
Aiming for Family Focus
Post-pandemic, the resort has seen a significant rise in the number of both domestic and international visitors, Kim Young-suk, Head of the Kangwon Land Media Relations Team, told CasinoBeats.
“We are seeing an accelerated influx of family visitors and tourists seeking relaxation,” said Kim. “We are moving beyond a traditional demographic of casino-only patrons, and building a reputation as a premier year-round integrated resort.”
Kim said Kangwon Land plans to capitalize on the uptick in visitors by creating a “second casino facility that will help ease space and seating shortages in existing casino areas.”
“It’ll significantly expand our operational footprint,” said Kim. “We will also be adding more gaming equipment to establish a world-class environment for our patrons.”
The plans involve the launch of an exclusive VIP lounge.
But Kim said Kangwon Land wants to move away from its image as a “casino-centric resort,” and is also planning a range of new non-gambling facilities.
Chief among these is a project called the Grand Dome, which will include a media tower, a “musical fountain,” and “an indoor garden featuring lush greenery that remains vibrant throughout the seasons,” Kim said.
The firm first unveiled details of its $2.3 billion project last year. Construction on the multi-stage project will wrap up in 2035, with a view to boosting annual visitor numbers to over 13 million.
The operator’s former acting CEO, Choi Cheol-kyoo, said last year that the revamped resort will eventually rake in annual revenues of $2.6 billion.
Choi this year spoke of turning Kangwon Land Casino and High1 one into what he called a “K-HIT” venue: a “Korean-style High1 integrated tourism resort.”
Overhaul Plans Unveiled
Kangwon Land also plans to overhaul its hotel facilities at both its main Grand Hotel Main Tower and the High1 Mountain Condo.
“We’re planning to increase the number of family-oriented guest rooms,” said Kim. “The aim is to create a pleasant environment for leisure and relaxation.”
Regardless, casino receipts remain the resort’s bread and butter.
“Table games like baccarat and blackjack are the card games most of our domestic casino visitors favor the most,” said Kim. “Those are the most crowded tables.”
“Our new Grand Casino will be a state-of-the-art facility,” said Kim. “It will help us create a year-round integrated Korean resort where non-casino facilities and casino operations fuse seamlessly.”
