11/2/2001
Kangwon Land, the country only casino operator, is expected to turn out to be the largest sales maker in the gambling industry in the country, avoiding the horse racing.
As to Korea Leisure Industry Research Institute Wednesday, the total bet amount at the casino of the Land, located in Kangwon Province, is expected to reach W3 trillion this year and W7.5 trillion in 2003.
Kangwon Land announced that its sales and net profits last year reached W90.9 billion and W41.2 billion each and, in the first half this year, W224.6 billion and W111.9 billion each.
Kangwon Land sales figure represents the total bet amount minus the payment on the bets. The firm, on the other hand, said that the total bet amount alone amounted to W607 billion last year and estimated it would reach W3 trillion this year.
The Institute said that the per-customer betting amount on each visit to the casino stood at W2.9 million last year, about 7.8 times more than the per-customer amount of W370,000 for horse racing.
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