Kangwon Land’s slot machine business, which operates under the KL Saberi brand, has posted losses for six consecutive years. Between 2020 and 2025 the unit accumulated losses of about KRW14.8 billion, equivalent to $11 million.
Kangwon Land slot losses: the KL Saberi business lost KRW14.8 billion ($11 million) between 2020 and 2025, with the 2025 loss at KRW3.4 billion, up 17%. The Philippine office spent KRW700 million ($521,000) while selling 42 units in 2024 and six in 2026.
- Six Years of Slot Machine Losses
- KL Saberi Still Sells to Korean Casinos
- The KRW700M Philippine Office
- Koo Ja-keun’s Review Demands
Kangwon Land’s slot machine business, which operates under the KL Saberi brand, has posted losses for six consecutive years. Between 2020 and 2025 the unit accumulated losses of about KRW14.8 billion, equivalent to $11 million. The annual loss was KRW3.4 billion last year, up roughly 17% on 2024.
The business launched in 2017 and develops machines for Kangwon Land’s own casino as well as external customers. Revenue fell as the domestic slot market adjusted, and the loss widened year over year. For a resort operator, a six-year run of losses from a single business is unusual.
Kangwon Land’s slot business records six consecutive years of losses
The figures were disclosed by People Power Party lawmaker Koo Ja-keun. The accumulated loss between 2020 and 2025 reached approximately KRW14.8 billion. The annual loss in 2025 was KRW3.4 billion, widening by around 17% from 2024.
The unit was designed to be a second revenue stream for the resort. Domestic slot machines generate income beyond the resort’s own gaming floor, and the losses suggest that stream has not yet paid for itself. The six-year pattern is the real concern, because it points at a structural problem rather than a single weak quarter.
The KL Saberi brand sells machines to other Korean casinos
The KL Saberi brand is not just a domestic experiment. Since 2017 the unit has supplied machines to other South Korean casino operators, including Grand Korea Leisure and Golden Crown Casino. That makes the domestic losses harder to dismiss, because the revenue stream reaches outside the resort.
The external sales show that Korean casino operators are competing with one another on hardware, not just on location. A manufacturer that sells to rivals is exposed to the same domestic pricing pressure those rivals face. The six-year loss run suggests that pressure has so far outweighed the volume.
Kangwon Land’s Philippine office spent KRW700 million
Kangwon Land opened its Philippine office in 2022 to expand overseas sales. By the end of August 2026 the unit had spent KRW700 million on expenses including office space, staff housing and vehicle leases. Outright machine sales fell from 42 units in 2024 to none in 2025, with six sold in 2026.
A further 12 machines were covered by separate conditional sales and test-bank arrangements this year, but those units had yet to generate revenue. The pattern is clear: the office spent money on structure before the market produced any sales at all.
Distributors, staffing and the Koo Ja-keun review
The Philippine office had also failed to secure new distributors, distribution agreements or memorandums of understanding since opening. Kangwon Land said the Philippines was the exclusive territory of its existing Southeast Asian distributor, RGB, so the office focused on managing that relationship and conducting joint sales activities.
Koo questioned whether the office justified its additional costs. His office’s analysis of immigration records found that the employee assigned there spent 243 days in South Korea between January 2024 and September 6, 2026, roughly a quarter of the posting period. Those stays included work, medical appointments, health checks and family care.
AGBrief has tracked Korean casino operators’ overseas expansion plans.
The employee received approximately KRW40 million, or $30,000, a year in overseas allowances. Koo called for a review of the entire operating framework, from the need for the overseas office to the duties and allowances of the staff assigned there.
Frequently Asked Questions
How much has Kangwon Land’s slot business lost?
The KL Saberi unit accumulated losses of about KRW14.8 billion, or $11 million, between 2020 and 2025. The 2025 loss alone reached KRW3.4 billion, up around 17% from 2024.
Who else uses KL Saberi machines?
Grand Korea Leisure and Golden Crown Casino have received machines from the KL Saberi brand since its 2017 launch. The unit develops hardware for Kangwon Land’s own casino as well as those external operators.
What has the Philippine office cost?
Kangwon Land spent KRW700 million, or $521,000, on office space, staff housing and vehicle leases by the end of August 2026. The office had secured no new distributors or agreements since opening.
Why did Philippine slot sales fall?
Outright machine sales dropped from 42 units in 2024 to none in 2025, with six sold in 2026. RGB, the existing Southeast Asian distributor, holds exclusive territory for the Philippines, limiting the office’s role to joint sales.
What is Koo Ja-keun asking for?
The lawmaker wants a review of the overseas office’s operating framework, including staffing duties and allowances. His analysis found the assigned employee was in South Korea for only 243 days between January 2024 and September 6, 2026.
This article has been thoroughly researched and reviewed by the CasinoBait editorial team to ensure accuracy and relevance for Asian casino players.
