South Korea

South Korea’s Paradise City may face hard yards due to a ban on Chinese tour groups to the country, notes Bloomberg Intelligence analyst Margaret Huang.

South Korea’s newest integrated resort held its grand opening in Yeongjongdo on Thursday, giving yet another option for gamblers from neighboring China and Southeast Asia.

The number of Koreans taking up voluntary exclusions to Kangwon Land Casino is on the rise.

Lottery revenues increased 9 percent year-on-year in South Korea in 2016 driven in part by changing player perceptions, but remain low when compared with other OECD countries, signaling room for further growth.

Lottery revenues increased 9 percent year-on-year in South Korea in 2016 driven in part by changing player perceptions, but remain low when compared with other OECD countries, signaling room for further growth. A gradually changing perception of the lottery as something that can provide funds to help society, together with an expanded online offering are likely to spur future growth.



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The South Korean government has earned 62.5 trillion won (US$54.56 billion) from the gambling industry over the past 15 years, about half of it through taxes, the Yonhap news agency reported.

Casino operator Paradise Co. Ltd. saw casino revenues slide 9.5 percent year-on-year in the first quarter of 2017.

Southeast Asia has the world’s fastest growing eSports audience, with signs the region’s land-based operators are beginning to take an interest in how to tap into the potential of this, and other skill-based products, to reach a younger demographic. There has been growing convergence between land-based and online spheres in the region, with the most often cited example being the growth in live dealer tables in jurisdictions such as Cambodia and the Philippines. However, the potential for eSports has so far been largely untapped, despite its explosive global growth.

 

Southeast Asia has the world’s fastest growing eSports audience, with signs the region’s land-based operators are beginning to take an interest in how to tap into the potential of this, and other skill-based products, to reach a younger demographic.

 



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Silkroad Culturaltainment Ltd. is set to launch marketing offices for MegaLuck in Seoul and Macau later this year, according to a recent filing from the company to the Hong Kong Stock Exchange.

Kangwon Land, whose top-line growth slowed to 3.8 percent last year, is likely to see a recovery in its fortunes driven by an upgrade in its slot machines, strong domestic growth and a potential boost from the Winter Olympics next year, Morgan Stanley says.

South Korea’s first true integrated resort is to open in April, although concerns remain about the potential for growth in the foreigner-only market.

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