South Korea

Kangwon Land posted a 10.7 percent decline in net profit for the second quarter of 2017, reaching KRW110.4 billion (US$96.9 million).

Landing International Development has inked an agreement to launch a luxury Four Seasons resort within Jeju Shinhwa World.

US tribal casino operator Mohegan Gaming and Entertainment says it is planning to break ground on its South Korean integrated resort project before the end of the year.

Asia’s gaming markets have seen a strong first half, with Macau, the Philippines and Cambodia leading the way, prompting some analysts to revise upwards their targets for the full year.

 

 

Asia’s gaming markets have seen a strong first half, with Macau, the Philippines and Cambodia leading the way, prompting some analysts to revise upwards their targets for the full year. But it hasn’t all been plain sailing; the fatal attack on Resorts World Manila lead to a suspension of its gambling operations in June, while South Korea continues to underperform after a diplomatic spat with China, which banned tour groups after Seoul agreed to deploy a U.S. missile shield.



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Korea’s foreigner-only casinos bounced back after seeing declines in 2015, registering a 2.6 percent increase in turnover in 2016 - reaching KRW1.3 trillion.

Sky Racing World, the Kentucky-based distributor of international horse-racing content and subsidiary of Australian wagering operator Tabcorp, has entered into a partnership with the Korea Racing Authority (KRA).

South Korea casino operator Paradise Co Ltd. saw revenues dropping 20.7 percent in the first half of the year, attributed to a weaker gaming segment.

South Korean casino operator Paradise Co. reported a 30.4 percent decline in gaming revenue in the month of May, reaching KRW 41.6 billion (US$37.1 million).

Paradise Co reported a 92 percent plunge in net profit in 17Q1, due to a downturn in casino sales caused by unfavorable VIP luck.

Kangwon Land posted a 9 percent drop in 17Q1 profit as gaming revenue declined.

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