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South Korea

Sony Online Entertainment has teamed up with Daum Communications to bring the PlanetSide 2 game to South Korea. Daum will hold exclusive PlanetSide 2 publishing rights, including dedicated servers, local customer support and payment gateways for South Korea.

Police in Seoul have broken up an online gaming ring, arresting six members and booking a further 122 associates, according to local media. The illegal website has been operating from May 2010 to March 2013 in China and the Philippines. 

A daily average of 200 to 300 users are thought to have logged into the site, betting a total of 197 billion won ($185.9 million) during the three-year period. The suspects pocketed a 14.5 percent commission on each bet.

Paradise Group and Sega Sammy are planning to build a $1.7 billion luxury resort in Incheon, near the capital Seoul. The venture aims to tap a surge in Chinese gamblers arriving in the country. The resort will feature a 500-room luxury hotel, convention center, retail venues and a foreigners-only casino. It is expected to open in 2016.

 

The Ministry of Trade, Industry and Energy in South Korea has said that it will release a comprehensive plan to revise current regulations concerning the establishment and operation of casinos on 11 October.  The foreigner-only casinos are to be set up in Free Economic Zones (FEZs) across the country.  

In an announcement to The Stock Exchange of Hong Kong on Monday, Lippo Group, a joint venture partner with Caesar's Entertainment in a consortium that recently lost a bid for building an integrated resort in Incheon, stated that the consortium was in discussions with the relevant Korean authorities.  The talks 

Following a petition by Chinese company Jiangsu Shagang, Jeju authorities impounded a cruise ship, the MS Henna, owned by another Chinese company HNA Cruise.  The two companies are reportedly in a dispute over debt, 

Sales for South Korea's so-called "pension lottery", which pays out in installments over 20 years instead of in a lump sum, fell 48.1 percent to 68.1 billion won ($62.5 million) in the first half of the year from the same period in 2012.

Gaming revenues for Kangwon Land Inc., operator of the only South Korean casino that can admit locals, edged up only 1 percent to 298 billion won ($267.9 million) in the second quarter from the April-June period in 2012 despite the opening of new tables and slot machines. Mass table revenues also rose 1 percent, to 158.1 billion won while slot revenues increased 10.7 percent to 102.4 billion won. VIP revenues however dropped 13.6 percent to 38.8 billion won on a lower hold rate.

Casino revenues rose 19.7 percent for operator Paradise Co. to 127.66 billion won ($114.8 million). At its flagship Walker Hill casino in Seoul, revenues rose 12.9 percent to 110.39 billion won as table revenues rose 13.7 percent to 103.8 billion won and slot revenues rose 1.5 percent to 6.6 billion won. Paradise said its share of the foreigner-only casino market rose 1.5 percentage points to 51.7 percent in the quarter.

Casino revenues rose 2.1 percent for operator Grand Korea Leisure Co. to 129 billion won ($116 million) in the second quarter from the April-June period last year. Casino visitor numbers rose 5 percent to 415,000 as a 24.2 percent rise in Chinese gamblers offset a 19.5 percent drop in Japanese traffic. Corporate net profits rose 23.5 percent to 30.1 billion won. The company is seeking to open foreigner-only duty-free stores to complement its foreigner-only casinos.

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