Tim Alper is a journalist who covers betting news and regulation for CasinoBeats. He joined the CasinoBeats team in May 2025. He reports on breaking news and developments in the world of betting, casinos, and...
Read Full BioThe High1 casino-resort, operated by the majority-government-owned firm Kangwon Land, welcomed over 7 million visitors last year, setting a record.
The South Korean media outlet Financial News reported that the operator has attributed much of its success to non-gambling activities, despite previous reports that gambling still makes up around 80% of its revenue.
“Surpassing 7 million visitors is an achievement that demonstrates that High1 has established itself as a leading resort destination in South Korea,” said a Kangwon Land spokesperson. “We will continue to strengthen our position as a global resort complex through differentiated wellness facilities.”
The firm said the rise in foot traffic was “largely due” to the launch of its revamped Wellness Center last year.
The company said its wellness resources draw on resources from the surrounding forests. The spokesperson said High1 has boosted its competitiveness “as a global wellness resort that combines wellness, sports, and entertainment.”
High1 Casino: Financial Success at Former Coal Mines
Despite a recent share price decline and concerns about its leadership, Kangwon Land’s financial figures point to a successful 2025.
Net profit rose by more than 24% year-on-year in the third quarter to surpass the $78 million mark. That came after the company posted record net profits at the end of 2024.
In early 2025, securities experts told the South Korean media outlet News1 that an expansion of VIP customer marketing at High1 led them to “expect the highest performance in the VIP sector since 2019.”
This profitability has led Seoul to consider cashing in on High1’s success. Last week, the South Korean newspaper Chosun Ilbo reported that the Ministry of Trade, Industry and Energy is “considering using Kangwon Land’s resources to resolve Korea Coal Corporation’s accumulated debts of 2.5 trillion won [$1.7 billion].”
Revitalizing Gangwon’s Economy
Kangwon Land’s very existence is dependent on Gangwon Province’s abandoned coal mines. It was opened in October 2000, with a remit to become South Korea’s only casino open to domestic visitors.
The government paved the way for its launch under the Special Act on Support for the Development of Abandoned Mine Areas.
At the time, the government said it would help raise funds to revitalize local economies that had slumped following mine closures.
South Korea’s so-called “coal rush” came to an abrupt end in the 1990s. This led to calls to help boost tourism in Gangwon as an alternative to coal mining.
Some critics, however, have claimed that High1 is helping drive up gambling addiction and associated crime in the province.
