Corporate Logo(source: high1.com)
NH Investment & Securities raised its target price for Kangwon Land (035250) to 23,000 won from 22,000 won on July 30, citing an improving business environment, including higher betting limits. The brokerage also gave favorable remarks on the company’s commitment to shareholder returns. Kangwon Land shares last closed at 19,160 won.
Lee Hwa-jung, an analyst at NH Investment & Securities, stated, “Operational restructuring is underway at the casino, and table betting limits are being raised, signaling an overall improvement in the business environment.” She added, “By 2028, the number of tables is expected to increase by 50 and the number of slot machines by 250, providing a foundation for sustainable mid- to long-term earnings growth.”
Lee also noted, “The company has set an annual shareholder return target of 60%, to be achieved through a combination of dividends and share buybacks. Currently, treasury shares account for 6.33% of total outstanding shares. If the proposed legislation mandating the retirement of treasury stock is enacted, the company is expected to comply.” The ruling party has submitted an amendment to the Commercial Act that would make the retirement of treasury shares compulsory.
For the second quarter, Kangwon Land reported standalone revenue of 360.7 billion won, up 6.81% from the same period a year earlier. However, operating profit declined 21.17% to 57.9 billion won, falling well short of market expectations. Net profit dropped 62.15% to 60.6 billion won, primarily due to increased performance-based bonuses following a higher management evaluation rating, as well as advance provisioning for voluntary retirement benefits.
Commenting on the second-quarter results, Lee said, “Casino visitor numbers totaled 580,000, up 6% year-on-year. Following the increase in VIP table betting limits, both VIP guest traffic and drop amount (chip purchase volume) have shown encouraging trends.”
*[KOSPI] Kangwon Land(035250) engages in casino and resort businesses. It sells various products and services such as accommodation, leisure, healing, activities, and conventions under the High1 brand. Market capitalization is 4.093 trillion won (as of July 29, 2025, closing price).
Corporate Logo(source: high1.com)
NH Investment & Securities raised its target price for Kangwon Land (035250) to 23,000 won from 22,000 won on July 30, citing an improving business environment, including higher betting limits. The brokerage also gave favorable remarks on the company’s commitment to shareholder returns. Kangwon Land shares last closed at 19,160 won.
Lee Hwa-jung, an analyst at NH Investment & Securities, stated, “Operational restructuring is underway at the casino, and table betting limits are being raised, signaling an overall improvement in the business environment.” She added, “By 2028, the number of tables is expected to increase by 50 and the number of slot machines by 250, providing a foundation for sustainable mid- to long-term earnings growth.”
Lee also noted, “The company has set an annual shareholder return target of 60%, to be achieved through a combination of dividends and share buybacks. Currently, treasury shares account for 6.33% of total outstanding shares. If the proposed legislation mandating the retirement of treasury stock is enacted, the company is expected to comply.” The ruling party has submitted an amendment to the Commercial Act that would make the retirement of treasury shares compulsory.
For the second quarter, Kangwon Land reported standalone revenue of 360.7 billion won, up 6.81% from the same period a year earlier. However, operating profit declined 21.17% to 57.9 billion won, falling well short of market expectations. Net profit dropped 62.15% to 60.6 billion won, primarily due to increased performance-based bonuses following a higher management evaluation rating, as well as advance provisioning for voluntary retirement benefits.
Commenting on the second-quarter results, Lee said, “Casino visitor numbers totaled 580,000, up 6% year-on-year. Following the increase in VIP table betting limits, both VIP guest traffic and drop amount (chip purchase volume) have shown encouraging trends.”
*[KOSPI] Kangwon Land(035250) engages in casino and resort businesses. It sells various products and services such as accommodation, leisure, healing, activities, and conventions under the High1 brand. Market capitalization is 4.093 trillion won (as of July 29, 2025, closing price).