KL Saberi, the slot machine brand of Korea’s Kangwon Land, has accumulated losses of KRW14.8 billion (US$236 million) over the past six years, selling just 77 units in that time, according to a report by Seoul Economic Daily.
Citing data submitted to the National Assembly’s Trade, Industry, Energy, SMEs and Startups Committee last week, the report claims that KL Saberi has posted a loss every year since 2020 while failing to come anywhere near its initial projections, having upon its launch in 2017 forecast annual sales of 10,000 units by 2031 and generating revenue of KRW500 billion and net profit of KRW200 billion.
Rep. Koo Ja-keun of the opposition People Power Party, who first obtained the data from Kangwon Land, has also questioned the value of KL Saberi’s Philippine office, opened in 2023 with the goal of expanding international sales.
Despite partnering with leading distributor RGB International Bhd around the same time, the company sold just 20 units in 2023 and 42 in 2024 before plummeting to zero sales last year and crawling to six units in 2026 so far. Notably, these Philippine sales accounted for 88.3% of the 77 units sold worldwide since 2020.
It is claimed that KL Saberi has one staffer in South Korea, although this staffer has reportedly been primarily focused on managing the office and its relationship with RGB. The report says the office “found no new distributors and signed no new contracts” of its own accord.
KL Saberi, which manufactures its machines in Taebaek, Gangwon Province, primarily supplies its product directly to Kangwon Land, best known as South Korea’s only casino open to locals.
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