Combined sales in South Korea’s foreigner-only casinos increased by 2.6 percent in 2016 to KRW1.28 trillion (US$1.14 billion), according to data compiled by the country’s National Gambling Control Commission.
After consecutive years of annual growth in sales, South Korea’s foreigner-only casino sector had recorded a year-on-year decline of 9.7 percent in 2015. But data disclosed earlier this week by the South Korean regulator show the sector rebounded in 2016.
In 2016, sales at Kangwon Land – the only casino resort in South Korea where the country’s nationals are allowed to gamble – were larger than combined sales in South Korea’s foreigner-only casinos. It was the third consecutive year Kangwon Land’s sales outstripped those of the foreigner-only sector. Kangwon Land posted sales of KRW1.63 trillion last year, up 4.3 percent in year-on-year terms, according to the commission’s data.
South Korea had a total of 17 casinos in 2016, including Kangwon Land.
Total gaming sector sales in South Korea – including foreigner-only casinos and Kangwon Land – stood at KRW2.9 trillion in 2016, following consecutive year-on-year increases at least since 2007, the oldest available data on the commission’s website.
The first large-scale gaming resort in South Korea – one which features a foreigner-only casino – started operations in April this year. Paradise City, by South Korea’s foreigner-only casino operator Paradise Co Ltd and Japanese pachinko operator Sega Sammy Holdings Inc, is near Incheon International Airport. The latter serves the capital Seoul and is a major regional hub. A second phase to Paradise City – to open in the first half of 2018 – will add further entertainment and leisure offerings to the complex, and a boutique hotel.
Apr 23, 2019A proposal to open more casino properties in the Philippines under the moniker ‘City of Dreams’ is under consideration. That is according to the Philippine Star newspaper on Tuesday, citing...
Gaming tax revenue collected by the Macau authorities in the first quarter of 2019