Kangwon Land’s second casino secured a US$55.1 million construction contract worth KRW74.1 billion after winning the top slot in a Public Procurement Service tender. The build will add 50 gaming tables and 250 gaming machines.
Kangwon Land casino won a KRW74.1 billion (US$55.1 million) construction contract for its second property, with Shinyoung C&D leading a three-party consortium at a 65% share. Work is estimated to take roughly 23 months and add 50 tables plus 250 gaming machines.
- Shinyoung C&D Leads the Consortium
- The 2028 Opening Target
- A KRW179.6B Investment Plan
- Hotel Refurbishment and Operating Spending
Kangwon Land’s second casino has entered its most active construction phase yet. The consortium won the slot in a tender run by Korea’s Public Procurement Service, and the reported construction period is about 23 months. The operator has targeted the first half of 2028 for the building’s opening, and the contract covers both the new casino and renovations to existing accommodation and leisure facilities.
The tender results put Shinyoung C&D in the lead at a 65% share. Seorim General Construction holds 20% and Daehwa Construction takes the remaining 15%. Shinyoung C&D is the construction arm of the Shinyoung Group property developer. The reports did not reveal when work is scheduled to begin.
Shinyoung C&D Leads the Consortium
The winning bid combines a property developer with two established general contractors, which gives Kangwon Land a broad base for both the build and the refurbishment work. The scope runs beyond the casino itself, touching existing hotel and leisure facilities at the complex in Jeongseon, Gangwon province.
A 65% share for the lead partner means Shinyoung C&D is carrying most of the cost and delivery risk. That structure is common on South Korea’s largest casino projects, where the developer typically coordinates design, construction and fit-out under a single umbrella. The absence of a start date in the reports leaves the schedule open, but the 2028 opening target remains the benchmark the operator has committed to publicly.
The 2028 Opening Target
Kangwon Land has stated it is aiming to open the second casino in the first half of 2028. The KRW74.1 billion contract is a significant step toward that target, covering both new build and the renovation of existing accommodation and leisure facilities. The consortium’s 23-month schedule leaves a narrow margin before the first-half opening window closes.
The expansion is due to add 50 gaming tables and 250 gaming machines, figures previously disclosed by the operator. That volume is substantial relative to the resort’s existing floor, and it suggests a meaningful uplift in daily capacity rather than a simple refresh of the existing layout. The project also includes food and beverage outlets and other non-gaming facilities, which the company has treated as a supporting revenue stream rather than an afterthought.
A KRW179.6B Investment Plan
The board approved a broader KRW179.6 billion investment for the second building in December 2024. The plan covers the casino, guestrooms and the surrounding leisure and dining facilities, giving the operator a defined financial envelope for the resort’s next phase of expansion.
Operating investment in the second-casino construction category reached KRW97.2 billion through September 30, against a full-year 2026 budget of KRW126.4 billion. That leaves roughly KRW29 billion of the budget still to spend, but the Q3 materials did not break the figure out by project, so the pace of individual site work remains unclear.
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Hotel Refurbishment and Operating Spending
A separate KRW200 billion refurbishment programme is under way, covering 757 hotel and condominium rooms. That represents about 41% of the resort’s total accommodation inventory, and it means a large share of Kangwon Land’s guestrooms are being replaced over the next few years.
Work on 280 units at the Mountain Condominium is set to complete in October 2027, ahead of a further 477 rooms at the Grand Hotel Main Tower due for completion in early 2028. The second wave aligns with the casino opening, which suggests the operator is sequencing the refurbishment so that the upgraded inventory is ready when the second casino brings new visitor traffic to the resort.
Frequently Asked Questions
Who won the Kangwon Land casino contract?
Shinyoung C&D leads a three-party consortium with a 65% share. Seorim General Construction holds 20% and Daehwa Construction 15%. The group ranked first in a tender run by Korea’s Public Procurement Service.
How much is the contract worth?
The contract is worth about KRW74.1 billion, or roughly US$55.1 million. It covers the second casino plus renovation of existing accommodation and leisure facilities at Kangwon Land.
When is the second casino due to open?
Kangwon Land is targeting the first half of 2028. The reported construction period is about 23 months, though no start date has been confirmed. The contract adds 50 gaming tables and 250 gaming machines.
What is Kangwon Land’s total investment budget?
The board approved KRW179.6 billion for the second building in December 2024. Operating investment in the construction category reached KRW97.2 billion through September 30, 2026, against a KRW126.4 billion full-year budget.
Why is the refurbishment programme important?
A KRW200 billion programme covers 757 hotel and condominium rooms, or about 41% of Kangwon Land’s inventory. The Mountain Condominium’s 280 units finish in October 2027, with 477 rooms at the Grand Hotel Main Tower completing in early 2028.
What does the second casino add?
The expansion adds 50 gaming tables and 250 gaming machines alongside food and beverage outlets and other non-gaming facilities. Kangwon Land remains the only casino in South Korea permitted to serve local residents, which makes the second site a significant capacity gain.
This article has been thoroughly researched and reviewed by the CasinoBait editorial team to ensure accuracy and relevance for Asian casino players.
