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IGT was a winner of Kangwon Land’s recent slot tender, its 1st in three years, on a joint bid with Novomatic, Konami and Aruze for a total of 230 new machines. This year’s first quarter seems to have stopped the downward slide, with gaming income off 1%, overall income flat and operating earnings down 1%. JP Morgan analysts Kim and Christopher Tang point out that removing a one particular-off Olympic promotion expense from 1Q18 shifts operating profits down 13%. But that’s nonetheless an improvement more than the preceding quarter and full year, so they’re comparatively upbeat.
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Kangwon Land Casino is a casino resort located at the foot of High1 Ski and Golf Resort in Jeongseongun, around 3 hours by automobile from Seoul. It is the largest casino in the country and accounts for over half of the country’s annual gambling revenue. Paradise City - In June, Paradise Co Ltd announced that Paradise City would open in April 2017 in Incheon, near the capital city of Seoul. It will be the 1st of at least three casino resorts to open by 2020. Phase one particular of the 330,000 sq m (three.55 million sq ft) $1.1b resort will contain a casino with 350 slot machines, 378 electronic gaming tables, and 160 reside dealer tables. A hotel and convention center is also anticipated to open with the casino.