Kangwon Land’s KL Saberi slot arm posts US$11.0m loss over six years

KL Saberi, the slot machine division of South Korea’s Kangwon Land Inc, logged cumulative losses of KRW14.81 billion (US$11.0 million) over the six years to 2025, company data supplied to the National Assembly shows. The business has reported a loss every year since 2020, with the annual deficit widening from KRW1.40 billion in 2020 to roughly KRW3.4 billion in 2024, according to Seoul Economic Daily reporting of material provided by Kangwon Land Inc to a People Power Party lawmaker.

Financial track record of the KL Saberi slot business

Kangwon Land Inc opened KL Saberi in 2017 as its entry into slot machine manufacturing. The figures disclosed to the National Assembly record KRW14.81 billion in cumulative losses for the six years ending 2025. Annual losses were first recorded in 2020 at KRW1.40 billion and increased to about KRW3.4 billion in 2024, per separate South Korean media reports that cited the same company submissions.

The disclosures do not break down all cost categories, but a separate item in Seoul Economic Daily highlighted overseas operating expenses tied to the group’s Philippine sales office. Kangwon Land Inc spent approximately KRW700 million on office, housing and vehicle leases in the Philippines through August 2026, the newspaper reported based on the company’s submissions.

Philippines sales office and regional performance

Kangwon Land Inc established a sales office in the Philippines in 2022 as part of an overseas expansion strategy. Sales there accounted for a significant portion of KL Saberi’s international shipments since the office opened, but activity has been uneven.

• Machines sold in the Philippines: 20 units in 2023 and 42 units in 2024.

• No sales were recorded in the Philippines in 2025.

• Six units had been sold in the Philippines so far in 2026, according to the report.

Since the Philippine office opened, 77 KL Saberi machines have been sold worldwide, and Philippine sales represented 88.3% of that total. The concentration of sales in one overseas market is notable given the broader target to diversify internationally.

International ambitions and prior deployments

Kangwon Land Inc had publicly signalled growth targets for its manufacturing arm. Company materials reported by Seoul Economic Daily said KL Saberi projected annual production of 10,000 units by 2031, with KRW500 billion in revenue and KRW200 billion in net profit attached to that scale.

KL Saberi has already sought sales beyond South Korea. GGRAsia reported in 2024 that the brand was targeting the Macau market. The brand has recorded installations in the Philippines and made an entry into South America with a 40-machine placement in Montevideo, Uruguay. Those deployments illustrate an international push despite the operating losses recorded to date.

Corporate governance and strategic review

Kangwon Land Inc operates South Korea’s only casino resort where South Korean nationals are permitted to gamble, positioning the group as a unique domestic operator. The company recently formed a committee to review major strategic initiatives and organisational matters following the appointment of its new chief executive, Kim Do-gyun.

That committee will be responsible for examining the performance of non-core or newly entered businesses, a remit that would include KL Saberi and the company’s overseas offices. The data disclosed to the National Assembly and reported by the Seoul Economic Daily was provided to a lawmaker from the People Power Party, making the results part of public oversight.

Commercial and regulatory implications for suppliers and operators

Manufacturers that expand from a domestic to an international footprint commonly face elevated fixed costs—office leases, local staff housing and logistics—and delayed sales cycles. For KL Saberi those expenses are visible in the approximately KRW700 million of Philippines-related leases recorded through August 2026. The heavy concentration of overseas sales in a single market increases revenue volatility for the brand.

Operators and suppliers following the story should note two concrete items: Kangwon Land’s public production projection for 2031 (10,000 units, KRW500 billion revenue, KRW200 billion net profit) and the recent formation of a strategic committee under CEO Kim Do-gyun. Both facts suggest the group is treating KL Saberi’s performance as a corporate priority and could lead to clearer investment or divestment decisions later this year.

Where this story may move next

The National Assembly disclosure has already prompted media scrutiny and raises questions about the sustainability of KL Saberi’s overseas expansion if losses continue. Kangwon Land’s strategy review committee will likely provide the market with signals on whether the group will scale back, restructure or seek new partners for growth in target markets such as Macau and the Philippines. For now, the public record shows cumulative losses of KRW14.81 billion to 2025, uneven international sales and concentrated deployment in the Philippines since 2022.

"KL Saberi has reported losses every year since 2020," Kangwon Land data disclosed to the National Assembly and cited by Seoul Economic Daily shows.
— Seoul Economic Daily, reporting on submissions to a People Power Party lawmaker

For coverage of how suppliers and regional operators are reacting to manufacturing entrants and market entries, see reporting in our b2b section and regulatory implications tracked in regulation.