The foreigner-only casino at Korean integrated resort Jeju Shinhwa World saw net revenue fall by 49% year-on-year to HK$115.2 million (US$14.7 million) in 2025, with Hong Kong-listed owner Shin Hwa World Limited citing a decrease in rolling win rate as well as lower rolling and non-rolling volumes.
Publishing its FY25 financial results overnight, Shin Hwa World said the decline came despite Les A Casino – formerly known as Landing Casino – hosting various major poker tournaments and events including the Korea Poker Cup Series and the Jeju Poker Festival.
Les A Casino is described as “an integral part of Jeju Shinhwa World” with 179 gaming tables and 65 slot machines and electronic gaming devices across 5,500 square metres of gaming space.
However, it has long struggled to generate profit with FY25 segment loss growing from HK$139.3 million (US$17.8 million) in 2024 to HK$156.7 million (US$20.0 million) in FY25.
The gaming results reflected ongoing challenges at the integrated resort, despite other facilities generating a slight 1.9% increase in revenue to HK$769.0 million (US$98.1 million). This was attributable to hotels, food and beverage services, MICE events, theme park attractions, water parks, merchandise sales and leases of retail spaces within the resort, the company explained, although segment loss for the resort was still HK$68.7 million (US$8.8 million).
Group-wide, Shin Hwa World reported a narrowed HK$341.8 million (US$43.6 million) loss in 2025 on a 10% decline in revenue to HK$966.9 million (US$123 million).
The company has never reported a full-year profit since Jeju Shinhwa World opened in 2017.
Nevertheless, it continues to outline grand plans for the future, stating in its 2025 results release that, “The Group’s long-term vision is to transform Jeju Shinhwa World into a multi-purpose, all-day destination that extends far beyond hospitality and gaming.
“Our non-gaming facilities, including a world-class MICE venue, a premium retail zone, cultural attractions, and family-oriented entertainment, will broaden our customer reach and increase visitor spending. The holistic experience offered by Jeju Shinhwa World is tailored not only to attract luxury travel and leisure travellers, but also to serve corporate clients, educational groups, lifestyle influencers and event organisers seeking distinctive and fully equipped venues.
“Event-based programs such as large-scale poker tournaments, golf clinics, live concerts, seasonal festivals and themed cultural events will continue to be the key drivers of repeat visitation. These events are expected to generate ancillary revenue across food and beverage, retail and park attractions, thereby diversifying the Group’s revenue streams and reducing reliance on hotel occupancy over the medium term. The Group believes that its wide range of entertainment and amenities is the key element that distinguishes it from competitors.”
Shin Hwa World added that it will continue to invest in facility upgrades and renovations in 2026 to ensure operational excellence, maintain asset value and align with evolving customer expectations but said it would exercise prudence in its long-term investment and growth strategy given the recent conflict in the Middle East.
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