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 Korea, Greater China, JapanTuesday, Mar 20, 2018

eSports global revenue for 2017 was estimated to be US$696 million and is expected to more than double to US$1.5 billion by 2020, with the Asia Pacific heading growth, according to Newzoo, a market intelligence firm.

South Korea, Mainland China, JapanTuesday, Mar 20, 2018

Mobile games are likely to grow by more than 8 percent per year through 2020, far outstripping growth for the PC and consoles, according to Daniel Kashti, chief marketing & commercial officer of Kama Games.

South KoreaFriday, Mar 16, 2018

The South Korean government has decided to fire all 226 employees of Kangwon Land who were found to have obtained their jobs through nepotism.

South KoreaTuesday, Mar 13, 2018

Interblock announced today the placement of the company’s first electronic table games in Korea at Golden Crown Casino Daegu.

South KoreaMonday, Mar 12, 2018

South Korea’s Ministry of Culture, Sports and Tourism office was raided on Saturday after allegations emerged that a former tourism ministry official had used his influence to secure jobs for four of his family members at Kangwon Land.

South KoreaThursday, Mar 08, 2018

A blockchain focused casino and VIP solution provider, Dragon Inc, has established a partnership with South Korea casino Seven Luck to develop its VIP rooms with gaming oriented cryptocurrency.

South KoreaMonday, Feb 26, 2018

Landing International officially opened Jeju Shinhwa World Landing Casino on Sunday, with the opening ceremony officiated by Dr. Yang Zhihui, chairman and executive director of Landing International and Jay Lee, CEO of Landing Jeju Development Co.