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.

Meanwhile, revenue at Kangwon Land, the only casino permitted to allow local residents to gamble, fell by 8%.

The figures marked a significant improvement from the prior three years when revenue for the foreigner-only properties, which include those run by Grand Korea Leisure under the Seven Luck brand and Paradise Co. under the Walker Hill brand, had been largely flat.

Visitors to foreigner-only casinos in 2018 rose to 2.8 million from 2.2 million the prior year, while at Kangwon Land the number of visitors fell to 2.8 million from 3.1 million in 2017.

Including Kangwon Land, there were a total of 17 casinos in South Korea in 2018. (AGB)