[Special Stock] 'Casino Regulation Easing' Gangwon Land and Paradise Stock Prices Rise↑

Shares of related companies such as Kangwon Land and Paradise surged significantly amid moves to ease regulations on the casino industry.

- Gangwon Land panorama

On the 5th in the stock market, Kangwon Land, a leading domestic hotel and casino company, was trading at 17,960 won as of 9:31 AM, up 9.31% from the previous day's closing price. The stock started rising early in the session and continued to expand its gains throughout the morning.

Kangwon Land announced before the market opened that it had received approval from the Ministry of Culture, Sports and Tourism to change its casino business license.

Accordingly, the general casino floor area of Kangwon Land will increase by 5,748㎡ from the existing 14,513㎡ to 20,261㎡. The number of gaming tables will increase by 50, from 200 to 250, and the number of machines will rise by 250, from 1,360 to 1,610. The foreigner-only zone's eligibility will also expand from citizens to both citizens and permanent residents.

Along with Kangwon Land's casino business expansion, Paradise, classified as the same casino company, also saw its stock price rise sharply. It showed an upward trend from early in the session and was trading at 11,820 won, up 5.25%, at the time of reporting.

Lotte Tour Development, which operates hotels and casinos in Jeju Island, also recorded a 3.09% increase, trading at 9,660 won.