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Kangwon Land Becomes Largest Gambling Firm in South Korea31 October 2001SOUTH KOREA –- As reported by the (South Korea) Chosun: "Kangwon Land, the country's only casino operator, is likely to become the largest sales maker in the gambling industry in the country, bypassing horse racing. "According 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 (US$2.3 billion) this year and W7.5 trillion (US$5.8 billion) in 2003. "Kangwon Land announced that its sales and net profits last year reached W90.9 billion (US$70 million) and W41.2 billion (US$32 million) each. "…According to the Institute, the per-customer betting amount on each visit to the casino stood at W2.9 million (US$2,200) last year, about 7.8 times more than the per-customer amount of W370,000 (US$290) for horse racing." |