Kangwon Land to export slot machines to casinos in Philippines
Kangwon Land will export slot machines to the Sheraton Manila Bay Hotel in Manila, after signing a sales contract with RGB, the largest slot machine retailer in Southeast Asia, the company said Tuesday.
The company will first manufacture 30 slot machines and send them to the casino in the Philippines through RGB, where they will be installed for use by April.
"The slot machine manufacturing business is a highly anticipated project with many advantages such as fostering small and medium-sized domestic companies, creating jobs in local communities and earning foreign currency. We plan to make it a new growth engine of Kangwon Land," Kangwon Land CEO Lee Sam-kul said.
It is Kangwon Land's first overseas sale since it started producing the machines in 2017. The company said its contract with RGB is meaningful as it has built a base to enter the Asian market. The company also expects to take the opportunity to escape from its sluggish business affected by COVID-19.
Kangwon Land has been developing the overseas sales network for its slot machine brand KL Saberi with RGB since they inked a supply deal in 2019. So far, the company has exported 38 slot machines to five casinos in the Philippines under a trial contract.
The trial contract refers to a deal where casinos test new slot machines for a certain period of time and decide on purchasing the product if it has high marketability.
KL Saberi slot machines are currently in use at Kangwon Land Casino. The company has supplied 260 of its own machines to save 8.2 billion won ($6.58 million). It also supplied 13 units to Grand Korea Leisure in Seoul, a casino exclusively for foreigners, and six units to Golden Crown Casino in Daegu.
The company will first manufacture 30 slot machines and send them to the casino in the Philippines through RGB, where they will be installed for use by April.
"The slot machine manufacturing business is a highly anticipated project with many advantages such as fostering small and medium-sized domestic companies, creating jobs in local communities and earning foreign currency. We plan to make it a new growth engine of Kangwon Land," Kangwon Land CEO Lee Sam-kul said.
It is Kangwon Land's first overseas sale since it started producing the machines in 2017. The company said its contract with RGB is meaningful as it has built a base to enter the Asian market. The company also expects to take the opportunity to escape from its sluggish business affected by COVID-19.
Kangwon Land has been developing the overseas sales network for its slot machine brand KL Saberi with RGB since they inked a supply deal in 2019. So far, the company has exported 38 slot machines to five casinos in the Philippines under a trial contract.
The trial contract refers to a deal where casinos test new slot machines for a certain period of time and decide on purchasing the product if it has high marketability.
KL Saberi slot machines are currently in use at Kangwon Land Casino. The company has supplied 260 of its own machines to save 8.2 billion won ($6.58 million). It also supplied 13 units to Grand Korea Leisure in Seoul, a casino exclusively for foreigners, and six units to Golden Crown Casino in Daegu.
