Inside Asian Gaming

inside asian gaming April 2015 30 Cover Story Scheduled Obsolescence Kangwon Land’s exclusive hold on domestic players in South Korea expires in 2025. The majority state-owned company’s stated goal is to prepare for that day, not just to secure its own post-monopoly future but to continue its overriding mission to contribute to the economic revival of Gangwon Province, its host region. Gangwon is a former coal mining area shut down as part of a government drive in the late 1980s to close inefficient mining operations. The authorities promised alternative economic plans for these areas, with the big prize of a casino for Korean players to be awarded to the most depressed region. The town of Sabuk in Gangwon, about 230 kilometers east of Seoul, was the winner. Kangwon Land, 51% owned by government entities, was formed in 1998 to restore the community’s economy and ecology. A small casino began taking bets in 2000, and a full-scale hotel, casino and theme park opened in 2003. The casino has grown from 30 table games at the outset to 200, with 1,360 slot machines, in an expansion completed in June 2013, all under the watchful eye of the Ministry of Culture, Sports and Tourism. Restrictions on the casino to discourage problem gaming have expanded over time as well, including a ban on Koreans Kangwon Land ’s exclusive hold on domestic players in South Korea expires in 2025. entering the casino more than 15 days a month, and Kangwon Land runs rehabilitation centers for problem gamblers on site and in Seoul. To create a complete resort destination, Kangwon has added a convention hotel and attractions such as a ski resort, golf course and vacation homes under its High1 Resort brand. A US$150 million indoor-outdoor water park is due for a soft opening in the A planned casino cluster on the outskirts of Vladivostok in Russia’s Far East lies squarely within Korea’s catchment area.