Home South Korea

South Korea

Korea’s Foreigner-Only Casinos Post Strong Gains in 2018

South Korea’s foreigner-only casinos posted strong revenue growth in 2018, gaining 34% over the prior year, according to figures from the country’s National Gambling Control Commission. Foreigner-only revenue amounted to 1.63 trillion won (about US$1.38 billion), up from 1.21 trillion won (about US$1.03 billion) the prior year.

Mohegan Appoints Regional President for Canada and Korea

US tribal casino operator Mohegan Gaming & Entertainment (MGE) has announced the appointment of Christian Block as regional president for its properties in Canada and Korea.

First Korea Gaming Congress Set for July

Incheon city will be the venue for the first Korea Gaming Congress, scheduled to be held July 17 and 18.

Opposition Party Calls for Second Locals-Permitted Casino

An opposition party has called on the government to allow the development of a second casino in South Korea that would allow locals to gamble as a means of boosting tourism in North Jeolla province.

Mixed Results for Korea’s Casino Operators in Early 2019

South Korea’s casino operators saw mixed results in the first quarter of 2019, with some, such as Kangwon Land, reporting a 13.3% rise in net profit, while others, such as Grand Korea Leisure, reporting a halving of net profit in the same quarter.

Sega Sammy’s Paradise City IR Set to Open Indoor Amusement Park

The Paradise City IR in Incheon, the joint venture between Sega Sammy Holdings and South Korean resort operator Paradise Group, has announced that the indoor amusement park “Wonderbox” is set to open to the public this coming Sunday.
Inspire IR in Incheon Korea

Mohegan and Paramount Pictures to Collaborate at IR in Incheon

Mohegan Gaming & Entertainment and the Paramount Pictures Corporation have announced an agreement to build a 404,000 square meter Paramount Pictures-branded theme park at the Inspire IR in Incheon, South Korea.
Paradise Group gain

Paradise Group November Sales Drop 5 Percent

Paradise Group casino sales fell almost 5 percent in November as a gain in electronic gaming machine revenue failed to offset a drop in tables.

Paradise October Sales Jump 39.2 Percent

Paradise Entertainment posted a 39.2 percent jump in October casino sales from the same month last year, lead by table games.

Opposition Demands Probe into Illicit Hiring Scandals

South Korean opposition parties on Monday submitted a proposal to launch a joint parliamentary probe into alleged illicit hiring practices of public agencies, including state-owned Kangwon Land, local media reports.

Trending Articles

Fitch Asia Markets

Fitch Pegs Japan IR Revenues at US$6 Billion

Fitch Ratings has estimated that the first round of IR construction in Japan will create revenues in the US$6 billion range, much smaller than, for example, the Morgan Stanley report of April 11 which foresaw a US$15 billion Japanese IR market developing by 2025.

Casino Entry Fee Remains Point of Contention

Japan’s proposed anti-addiction measures are viewed as generally “well-balanced,” though a lowering of the casino entry fee should be considered, said experts at the Japan Gaming Congress on Friday.

Hong Kong Jockey Club Warns about Illegal Betting

Illegal gambling is growing twice as fast as wagering and about US$140 billion is laundered annually though illegal markets, local media reports.

Laguna Lăng Cô Receives Casino License, Expects 2022 Opening

The Laguna Lăng Cô integrated resort is expected to open its new casino in 2022, after receiving the country’s first casino license in ten years.

Shares in South Korea’s Casino Operators Rally Ahead of Summit

Shares in South Korea’s casino operators rallied on Tuesday ahead of a summit between US President Donald Trump and North Korea’s Kim Jong-Un on hopes for greater cross border cooperation, including a potential casino project.