Kangwon Land Q3 profit hit by weaker gaming revenues and ongoing room renovations

Kangwon Land, the only casino in South Korea at which locals are permitted to gamble, reported a 17.9% year-on-year fall in operating profit to KRW59.7 billion (US$44.3 million) in the three months to 30 September 2026, impacted by lower gaming and non-gaming revenues and weaker margins. The company also reported a net loss of KRW3.9 billion (US$2.9 million), compared with a profit of KRW113.1 billion (US$83.9 million) a year earlier, due to fair-value losses on financial assets following a sharp rise in bond yields, according to its latest results release.