South Korea

With massive crowds, booming betting turnover and burning with ambition, Korean racing just might be Asian racing's sleeping giant. Yet not only does it face the same external pressures as the sport does worldwide, there are many “internal” challenges unique to the still-emerging jurisdiction.

 

With massive crowds, booming betting turnover and burning with ambition, Korean racing just might be Asian racing's sleeping giant. Yet not only does it face the same external pressures as the sport does worldwide, there are many “internal” challenges unique to the still-emerging jurisdiction. Now the Korean Racing Authority (KRA) is hoping a new international race meeting and re-vitalized competition can lead it into a new golden age.



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U.S. tribal operator Mohegan Sun says design and permitting for its $5 billion integrated resort in South Korea is proceeding at a rapid pace, and the project is currently on schedule to break ground in 2017 and open in early 2020. The resort's vision is for a truly diversified entertainment and leisure complex, with the majority of income from non-gaming. President and CEO Bobby Soper outlines the plans.

U.S. tribal operator Mohegan Sun says design and permitting for its $5 billion integrated resort in South Korea is proceeding at a rapid pace, and the project is currently on schedule to break ground in 2017 and open in early 2020.

 



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South Korean casino operator Kangwon Land posted a 4.5 percent year-on-year increase in net income for the third quarter of 2016, totalling KRW 124.3 billion ($108.4 million).

Jun Byung-hun, president of Korea e-Sports Association (KeSPA) is pushing for his goal to make e-sports an official Olympic event one day.

South Korean stocks tied to Chinese tourism slumped after concerns that local governments in mainland China are trying to limit the flow of visitors to the country.

New Silkroad Culturaltainment Limited has announced it is planning to raise a minimum of HK$1.5 billion ($189 million) through a share offer to raise funds for the development of tourism and gaming projects on Jeju Island.

South Korea’s Paradise Co. posted a 19 percent jump in September casino sales compared with the same month a year ago, led by table games.

Kangwon Land, the only casino in South Korea where locals are permitted to gamble, is considering imposing tougher measures to prevent problem gambling.

South Korea’s Paradise Co., which operates foreigner-only casinos, reported that Chinese VIP volume gained 1 percent in September in the first gain in 24 months in a promising sign for the recovery of the VIP market, Union Gaming says.

Casino operator Bloomberry Resorts Corporation has denied agreeing to extend the required closing date for the acquisition of Jeju Sun Hotel & Casino.

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