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Foreigner-only casino sales swing to growth in 2016

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, according to data from the National Gambling Control Commission.

Visitors numbers to these casinos however dropped in 2016, falling 9.6 percent to 2.36 million visitors in 2016 compared to 2.61 million in 2015.

Kangwon Land, the country’s only local-permitted casino, saw turnover of KRW1.6 trillion, up 4.3 percent year-on-year. The number of people visiting the casino rose from 3.13 million in 2015 to 3.17 million in 2016.

Gaming turnover in South Korea reached a total of KRW 2.9 trillion in 2016, a 3.6 percent year-on-year increase compared to 2015.

The gaming market currently consists of 17 casinos, including Kangwon Land.

More news from this jurisdiction

South KoreaWednesday, Jan 10, 2018

Sales of lottery tickets in South Korea saw a near record high in 2017, according to comments from the country’s lottery operator on Wednesday.

South KoreaThursday, Jan 04, 2018

Landing International has been forced to delay the transfer of its casino on Jeju island to its new IR complex after protests from local residents, the Korea Times reports.

South KoreaWednesday, Dec 13, 2017

The number of Chinese tourists visiting South Korea is expected to fall by 4 million in 2017, compared to over 8 million recorded in 2016.

South KoreaThursday, Dec 07, 2017

South Korea’s Paradise Co. reported a 3.9 percent increase in November sales, through the cumulative figures for the year are still in negative territory, showing a drop of 9.1 percent.

South KoreaFriday, Dec 01, 2017

The former CEO of Kangwon Land has been arrested on charges of unlawfully hiring staff at the request of politicians and local “bigwigs”.

South KoreaTuesday, Nov 14, 2017

Interblock has announced it has signed an agreement with Jeju Sun Hotel & Casino that will bring electronic table games to Jeju-Do Island in South Korea for the first time ever.

South KoreaWednesday, Nov 08, 2017

Kangwon Land saw a 10.2 percent decrease in gross gaming revenue for the three months ended September 30, 2017.