Inside Asian Gaming

IAG NOV 2021年11月 亞博匯 105 26-50 CHIEF EXECUTIVE OFFICER Kangwon Land 首席執行官 江原樂園 CLAIMS TO FAME 名成事跡 POWER SCORE 權能指數: 700 POSITION LAST YEAR 去年排名: Nil 無 Former Governor of North Gyeongsang Province Former 2nd Vice Minister of the Ministry of Public Administration and Security • • • • 前慶尚北道知事 原公共行政和安全部第二副部長 39 LEE SAM-GEOL THE ASCENSION OF MOON TAEGON to Interim Chairman of Kangwon Land last year left a void in the executive team that Lee Sam-geol’s appointment is expected to fill. Lee is a former 2nd Vice Minister of the Ministry of Public Administration and Security and since March this year is Kangwon Land’s new CEO. But don’t look for any revolving doors here. Kangwon Land, holding a monopoly over casino gaming for South Korean locals, is 51% government owned and overseen by the national Ministry of Knowledge Economy. Lee also finds himself in an enviable position, even if Kangwon Land has felt the pain of the COVID-19 pandemic just as much as any of the nation’s 17 foreigner-only casinos. In August, JP Morgan analysts predicted a 20% quarterly sequential improvement in mass and slot revenues in 3Q21, with lengthy queues upon the property’s reopening suggesting there is “overwhelming demand” from players to return post-COVID-19. Expect those queues to keep growing as Korea emerges further from the pandemic. Kangwon Land has also been granted a 20-year extension to its license, albeit with a small tax hike. Given the rapid return of players, don’t expect the new tax system to have any significant impact on revenues. Moon Taegon在去年 晉升為江原樂園臨時主席後，管理團隊出現空 缺，Lee Sam-geol的任職將填補這一空白。Lee Sam-geol此前曾 擔任公共行政和安全部第二副部長，自今年3月起成為江原樂園的新 任首席執行官。 但這並非「旋轉門現象」。江原樂園壟斷了韓國本地人的博彩業務， 由政府持有51%股權，並受韓國知識經濟部負責監管。 至少Lee Sam-geol身處一個令人艷羨的位置。儘管江原樂園與韓國 的17家僅限外國人入內的賭場一樣，皆受到新冠疫情的強烈衝擊。 8月，摩根大通分析師預測，2021年第三季度中場和角子機收入環比 增長20%。在物業重新開放前人們排起長隊，表明玩家在疫情後都有著 「壓倒性需求」。隨著韓國進一步擺脫疫情，預計到訪人數將進一步增 加。 江原樂園的賭牌也獲得了20年的延期，儘管與之相應的是小幅增稅。 有鑒於玩家的迅速回歸，顯然新的稅率不會對收入產生重大影響。