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South Korea Gaming

11/19/2018

article Non-gambling foreigner visits two casinos
(South Korea) -- I admit to having wasted a few dollars on the lottery when I lived in the U.S., but I am not a gambler. I had never been to Las Vegas or any other...

11/12/2018

article Korea's Jeju Faces Casino Future Head On, Ears Wide Open
(South Korea) -- Jeju is a beautiful island where some of the most interesting things in South Korea’s casino business are blossoming. With UNESCO World Natural...

11/9/2018

article Paradise Co 3Q profit up 12pct, helped by Paradise City
(South Korea) -- Third-quarter profit at South Korea’s Paradise Co, an operator of foreigner-only casinos in that country, rose 11.6 percent year-on-year, on group...

9/13/2018

article S. Korea's first casino resort set to open more entertainment facilities
(South Korea) -- South Korea's first casino and hotel complex Paradise City will open more entertainment and leisure facilities next week, its operator said Thursday...

8/19/2018

article Strong Q2 backs DoubleU Games’ plan to move to Kospi
(South Korea) -- Listed game software developers in South Korea suffered lackluster performance in the second quarter this year due to sparse new releases coupled with...

8/13/2018

article Kangwon Land sees Q2 profits fall 14%
(South Korea) -- Kangwon Land Inc. released its financial statement for the second quarter of 2018 last week and the numbers weren’t that great. The company...

8/2/2018

article Landing Intl launches new non-gaming offer at Jeju resort
(South Korea) -- An outdoor entertainment area called “Shinhwa Waterpark” is to open at the Jeju Shinhwa World casino resort on Friday (August 3). The new...

7/10/2018

article Grand Korea Leisure posts strong casino revenues in H1 2018
(South Korea) -- Despite experiencing a slump in its slot machine sales, gaming revenues of South Korean casino operator Grand Korea Leisure (GKL) grew by 4.1 percent in...

7/8/2018

article China Missile Spat Torpedoed South Korea Casino Sector in 2017
(South Korea) -- Visitors to South Korea’s foreigner-only casinos fell by 6.2 percent in 2017, according to government figures seen by local news agency Yonhap.

7/6/2018

article Korea cruiser includes a casino
(South Korea) -- South Korea’s biggest cruise terminal will open next year in Incheon and a cruise liner containing a casino will operate from it.

7/5/2018

article Landing International shareholders give green light to capital reorganization
(Hong Kong) -- Landing International Development Ltd, which operates Korean integrated resort Jeju Shinhwa World, has undertaken its capital reorganization after...
article Korea’s Paradise Co continues upward momentum with 65.9% revenue surge in June
(Korea) -- Korea’s leading foreigner-only casino operator Paradise Co Ltd has seen its casino revenue soar by 65.9% year-on-year to KRW57.6 billion (US$51.4...

5/23/2018

article Caesars Korea Casino Resort to Open 2021, First Asian Venue for Gaming Giant
(Japan) -- Caesars Korea — the casino operator’s first foray into the East Asian gaming market — will be completed in early 2021, according to William...

5/10/2018

article Challenging first quarter for Paradise Company Limited
(South Korea) -- South Korean casino operator Paradise Company Limited has reportedly released its financial results for the first quarter of 2018 showing that it...

5/9/2018

article Mohegan Sun takes sole ownership of Incheon casino project
(South Korea) -- Mohegan Gaming & Entertainment, the company which runs the Mohegan Sun chain of casino resorts, has announced the signing of an agreement to buyout...

5/4/2018

article Mohegan Gaming & Entertainment gain control of South Korea casino project
(South Korea) -- U.S. tribal gaming operator Mohegan Gaming & Entertainment (MGE) has gained full control of its casino project in South Korea after buying out its...

4/17/2018

article Chinese property tycoon bets on Korean casino resort for high rollers
(South Korea) -- Sometimes, all you need is a private jet. Soon after property tycoon Yang Zhihui bet his fortune on luring Chinese gamblers and investors to a giant...
article Foreigner-only casinos record sales growth in first two months of 2018
(South Korea) -- Korea’s foreigner-only casinos are finally seeing an uptick in sales after a dip last year as a result of tensions between China and South Korea,...

4/16/2018

article Chinese tycoon’s all-in bet on Korean island
(South Korea) -- Soon after property tycoon Yang Zhihui bet his fortune on luring Chinese gamblers and investors to a giant casino-resort project in South Korea, his...
article Japanese visitors give South Korea’s foreigners-only casinos new lease of life
(South Korea) -- Japanese tourists have been throwing a lifeline to South Korea’s foreigners-only casino sector amid the on-going diplomatic row between Seoul and...

4/15/2018

article S. Korea foreigner casinos see early 2018 sales up 16pct
(South Korea) -- Gambling sales at South Korea’s foreigner-only casinos rose 15.9 percent year-on-year in the first two months of the year, reported Yonhap news...

3/21/2018

article South Korea Gambling Industry Suffers Chinese Tourists Ban Consequences
(South Korea) -- South Korea is a rapidly-developing field in the global gambling industry as more and more casino operators turn their eyes to the region and consider...

3/20/2018

article The Billion Dollar Q: Will More Casinos Be Opened to South Koreans?
(South Korea) -- Of all 18 casinos in South Korea, only one is legally open to locals: Kangwon Land, located in the remote highlands of Gangwon Province, where the...

3/18/2018

article South Korean President Sacks 226 Employees at Kangwon Land Casino
(South Korea) -- The employees were allegedly hired nepotistically between July 2011 and February 2014, either because of their political connections to members of the...

3/16/2018

article Unlawfully-hired Kangwon Land staff face chopping block
(South Korea) -- South Korean President Moon Jae-in has kicked more than 200 employees out of the state-owned Kangwon Land casino’s premises after learning that...

3/12/2018

article Federal prosecutors raid head office of Kangwon Land Casino
(South Korea) -- In South Korea, federal prosecutors reportedly raided the offices of the Ministry of Culture, Sports and Tourism over the weekend to execute a search...
article Hiring scandal trail leads South Korea prosecutors back to Kangwon Land
(South Korea) -- South Korean prosecutors swooped down on Kangwon Land casino over the weekend and seized documents that they claimed would help pin a former official...

2/26/2018

article Jeju Shinhwa World Casino Begins Games of Another Kind in South Korea, Just as Winter Olympics Wrap Up
(South Korea) -- At the newly opened Jeju Shinhwa World Casino, 300 miles to the south of the Winter Olympics that just finished up in Pyeonchang on Sunday, a whole new...

2/25/2018

article Incheon Targeted for Yet Another Multibillion-Dollar Integrated Casino Resort
(South Korea) -- Incheon, South Korea, now has three integrated casino resorts under development after Chinese real estate investment firm LongRunn International Group...
article Jeju Shinhwa World Landing Casino and Marriott Resort and GD Cafe Open
(South Korea) -- Landing International Development Limited ("Landing International" or the "Company", together with its subsidiaries, the "Group...
article Incheon Targeted for Yet Another Multibillion-Dollar Integrated Casino Resort
(South Korea) -- Incheon, South Korea, now has three integrated casino resorts under development after Chinese real estate investment firm LongRunn International Group...

2/23/2018

article South Korea wants to build casino industry where all are welcome but Koreans
(South Korea) -- One of the most mysterious places at any of the Olympic venues here has been impossible to ignore. For anyone driving into the Alpensia resort, the de...

2/22/2018

article Jeju’s Landing Casino to Upgrade, Move to Jeju Shinhwa World
(South Korea) -- Jeju Island’s foreigners only gambling, Landing Casino, is set move locations from the Hyatt Regency Jeju Hotel to Jeju Shinhwa World, the island...
article South Korea all geared up for its new tourist attraction spot – to be fostered by LongRunn International
(South Korea) -- South Korea, the East Asian nation known for its green, hilly countryside dotted with cherry trees and centuries-old Buddhist temples is hopefully...

2/20/2018

article Chinese firm to develop casino scheme in Incheon
(South Korea) -- Chinese property developer LongRunn International Group is reportedly developing a large-scale casino resort complex in South Korea’s Yeongjong...

2/18/2018

article Kentucky 2030? Could Korea export its rural Olympic gamble?
(South Korea) -- A coal mine stands on the mountain exactly as it was the day it was abandoned, now a rusting relic of blue-collar glory lost to a globalized world.

2/7/2018

article S. Korea casino firm Paradise Co swings to 2017 loss
(South Korea) -- South Korean casino operator Paradise Co Ltd swung to a net loss for 2017, as group revenue declined in the fourth quarter. Such loss was approximately...

2/4/2018

article South Korea Casino Kangwon Land to Reduce Hours After Winter Olympics
(South Korea) -- South Korea casino resort Kangwon Land hopes to benefit from the Winter Olympics being held in nearby PyeongChang later this month. The international...

2/1/2018

article Kangwon Land casino floor to shut two hours earlier
(South Korea) -- South Korea’s Kangwon Land casino plans to close two hours earlier each morning to help the embattled operation stay in the government’s...

1/19/2018

article Jeju Shinhwa World anticipating late-February casino launch
(South Korea) -- In South Korea, real estate firm Landing International Development Limited has reportedly announced that it is hoping to open the casino for its giant...

1/18/2018

article Landing Casino targets late Feb opening: executive
(South Korea) -- The foreigner-only casino at Jeju Shinhwa World, a resort on South Korea’s Jeju Island, is likely to open to the public in late February, Chris...

1/7/2018

article S. Korea’s Paradise Co casino revenue down 9pct in full 2017
(South Korea) -- Casino revenue at South Korea’s foreigner-only casino operator Paradise Co Ltd declined by 8.6 percent in full 2017 compared to the previous year.

1/6/2018

article Opening of Jeju Shinhwa World Casino Delayed Yet Again
(South Korea) -- The casino, which was to be operated by Hong Kong’s Landing International Development, was originally announced to be opening on December 8. Two...

1/4/2018

article Opening of Jeju Shinhwa World casino postponed
(South Korea) -- Chinese real estate firm Landing International Development Limited has reportedly delayed the opening of the casino for its giant Jeju Shinhwa World...

1/3/2018

article Landing International puts off Jeju Shinhwa World casino opening
(South Korea) -- Hong Kong-listed Landing International Development Ltd. is postponing the opening of its foreigners-only casino on South Korea’s Jeju Island after...

1/2/2018

article Jeju Shinhwa World casino opening delayed: promoter
(South Korea) -- Jeju Shinhwa World, a resort on South Korea’s Jeju Island, has confirmed to GGRAsia a further delay to the opening of its foreigner-only casino....
article Jeju Shinhwa World in hot seat over foreigner-only casino
(South Korea) -- Jeju Island has recently divided into two, due to the intensifying conflict over a foreigner-only casino, which was initially planned to be moved to...

12/21/2017

article China Reinstates Group Travel Ban on South Korea, Gaming Operators on Edge
(South Korea) -- China’s ban on group travel to South Korea has reappeared this week, despite the countries pledging to end their diplomatic tensions in late...

12/18/2017

article South Korean revenue cap policy to hit Kangwon Land: JP Morgan
(South Korea) -- International brokerage JP Morgan Chase & Co. is feeling bearish on the prospects of casino operator Kangwon Land Inc. next year, when the South...

12/6/2017

article Paradise Co records casino revenue increase
(South Korea) -- Paradise Co Ltd, South Koreas foreigrner-only casino operator, recorded an increase of 3.9 percent in casino revenue after reaching US$50.6 million, 2.1...

11/8/2017

article Paradise net profits drop 86.5%, while revenues rise in Q3
(South Korea) -- Asia focused casino operator Paradise Co has announced an 86.5% year-on-year drop in its net profits for the third quarter of 2017.

10/16/2017

article Paradise Co casino grows in September
(South Korea) -- Paradise Co. Ltd finally closed a positive operating month in September, after announcing a revenue fall during the first two weeks of the month.

10/12/2017

article South Korea’s Paradise posts 34% revenue jump in September
(South Korea) -- The only international casino operator in South Korea Paradise Ltd has closed the summer in positive numbers, posting 34% revenue increases in September.

9/24/2017

article $1.8 Billion Jeju Shinhwa World Opens Officially in December on South Korean Paradise Island
(South Korea) -- Jeju Shinhwa World, the $1.8 billion integrated resort currently under construction on the South Korean holiday island of Jeju, has announced that its...

9/14/2017

article Corruption scandal hits South Korean state-run casino operator
(South Korea) -- South Korean state-run casino operator Kangwon Land has publicly announced a corruption scandal, admitting that the majority of people who landed a job...

9/13/2017

article Corruption scandal hits South Korean casino operator
(South Korea) -- The only casino operator in South Korea that is permitted to accept gambling by locals has admitted giving employment to hundreds of people based on...

9/12/2017

article South Korea’s Kangwon Land casino rocked by hiring scandal
(South Korea) -- South Korea’s leading casino Kangwon Land is reeling from a corruption scandal in which 95% of staff turned out to have been hired due to their...

8/29/2017

article Kangwon Land Casino to discontinue credit card lending services
(South Korea) -- In South Korea, the nation’s only casino accessible to locals has reportedly announced that it will be discontinuing credit card cash lending...

8/11/2017

article South Korean casino operator reports downturn in sales at casino resort
(South Korea) -- Amidst ongoing tensions in the region, which saw the deployment to Seoul of an American-made missile defence system earlier this year, South Korea...

8/2/2017

article South Korea’s Paradise City Casino Falling Short of Utopian Projections
(South Korea) -- The “foreigners-only” property in Incheon has so far welcomed 310,000 people in its first three months, falling short on projections of 1.5...

7/28/2017

article South Korea Casino Complex Enjoys Huge Popularity Among Tourists
(South Korea) -- The new casino complex located in the Incheon area, which opened to the public this April has managed to amass a total of 310,000 visitors for the first...

7/19/2017

article South Korean casinos eagerly await end to Chinese tourism spat
(South Korea) -- Gongzi Jeju, the newest foreigners-only casino on South Korea’s Jeju island, held its official grand opening on Sunday.

7/17/2017

article Korea’s foreigner-only casino sector sales up 3pct in 2016
(South Korea) -- Combined sales in South Korea’s foreigner-only casinos increased by 2.6 percent in 2016 to KRW1.28 trillion (US$1.14 billion), according to data...

7/5/2017

article South Korea’s Paradise Casino 1H revenue down 21%
(South Korea) -- South Korean casino operator Paradise Co saw its casino revenue drop by 20.7% in year-on-year terms during the first six months of 2017. In a filing to...

6/20/2017

article Korean casinos’ earnings outlook poor due to fall in Chinese visitors
(South Korea) -- South Korean casino stocks have lost their appeal as the players fail to come up with alternative revenue sources after being hard hit from diminished...

5/22/2017

article Sega Sammy eyes casino expertise via S.Korea scheme
(Japan) -- Japan-based conglomerate Sega Sammy Holdings Inc says it is seeking to “accumulate expertise” on the operation and development of casinos by...

5/19/2017

article South Korean Gaming Market Targeted by Australian Slots Manufacturer Aristocrat
(South Korea) -- The budding South Korean gaming market is enticing casino industry companies into rethinking their marketing strategies. Slots manufacturer Aristocrat...

5/1/2017

article Ramada Jeju revamped casino reopens in South Korea
(South Korea) -- Ramada Plaza Jeju Hotel’s casino (pictured), on the South Korean holiday island of Jeju, reopened on Friday following “months of renovation...

4/27/2017

article Jeju Shinhwa World opened first phase
(South Korea) -- Jeju Shinhwa World, the newest casino hotel complex from South Korea, held a grand opening for the first phase of the project on Tuesday. The venue...
article South Korea may allow iGaming
(South Korea) -- National authorities are considering the implementation of iGaming services for the lottery sector, according to Korea Times. Gaming operators in South...

4/22/2017

article First integrated casino resort opens in South Korea
(South Korea) -- Thursday saw the opening of Paradise Sega Sammy’s Paradise City in Yeongjongdo, South Korea in the location of the former Paradise Incheon Casino...
article South Korea set to open lavish casino as missile spat scares off Chinese gamblers
(South Korea) -- South Korea's first casino resort has been unlucky with the timing of its grand opening this week as a diplomatic spat scares off gamblers from...

4/20/2017

article China Deals a Blow to South Korean Casino’s Fortunes
(South Korea) -- Northeast Asia’s first Las Vegas-style casino resort opened here on Thursday, but to widespread concern about whether the South Korean gambling...

4/13/2017

article South Korean Government Raked $54.56 Billion in 15 Years But Casino Boom May be Short-lived
(South Korea) -- The South Korean government has earned trillions from gambling over the past 15 years. Trillions of South Korean won (SKW), that is, but it’s not...

4/12/2017

article South Korea Earns KRW62.5 Trillion from Gambling in 2000-2015
(South Korea) -- South Korea earned the amount of KRW62.5 trillion ($54.56 billion) in the period between 2000-2015 from what seems to be a profitable gambling industry...
article South Korean gov’t earned over $54b from gambling in 15 years
(South Korea) -- South Korea’s government has earned over $54b from gambling in the past 15 years, according to a new report. On Wednesday, the Yonhap news agency...

3/26/2017

article Paradise City to reshape S. Korea tourism: promoter
(South Korea) -- The chairman and chief executive of Paradise Co Ltd says the Paradise City casino resort at Incheon will be a game-changer for South Korea’s...

3/23/2017

article Kangwon Land casino paying problem gamblers to stay away
(South Korea) -- American casino industry groups are pleading with congressional leaders not to purge problem gambling support funds from President Donald Trump’s...

3/19/2017

article Asian Countries Compete to Establish Casinos...Korea Left behind due to Excessive Regulation
(South Korea) -- A race among Asian countries such as China, Japan, and the Philippines to build casino resorts has kicked off. The Japanese government is busy...

3/7/2017

article Mixed results for South Korean casino operator
(South Korea) -- South Korean casino operator Paradise Company Limited has released its financial results for February showing that gaming revenues from its five...
article South Korea Gambling Revenue Tops $17 Billion in 2016
(South Korea) -- South Korea gambling revenue surged in 2016 despite an economic downturn in the country. According to the Yonhap News Agency, the nation’s largest...

3/6/2017

article South Korea Gambling Revenue Approaches $18 Billion in 2016
(South Korea) -- South Korea seems to be well on the road of establishing itself as a major Asian gambling jurisdiction after it saw gaming and lottery sales increase 7....
article South Korea’s gambling revenue nears $18bn in 2016
(South Korea) -- Increases in gaming and lottery sales of 7.7% for 2016 saw South Korea’s gambling industry generate a total of KRW 20.3tn ($17.6bn), according to...

3/5/2017

article South Korea gambling revenue tops $17B in 2016
(South Korea) -- South Korea’s gambling industry continues to defy the odds, despite the economic downturn the country is facing. For the second year in a row, the...
article South Korea gaming, lottery sales up 8pct in 2016: report
(South Korea) -- Combined sales in South Korea’s gaming and lottery sector – excluding foreigner-only casinos – increased by 7.7 percent in 2016 to...

2/10/2017

article Paradise’s Japanese VIPs can’t make up for Chinese MIAs
(South Korea) -- South Korea’s two largest foreigner-only casino operators had very different results to close out 2016. Figures released this week show Paradise...

2/9/2017

article Paradise Co 4Q op profit falls on Incheon resort costs
(South Korea) -- Net profit attributable to shareholders of the parent company at South Korean casino operator Paradise Co Ltd rose 48.9 percent year-on-year in the...

1/19/2017

article Pawnshops, Brothels and Homelessness Blight Korean Casino Town
(South Korea) -- Four years ago, Kim Jong-gu went to the South Korean mountain town of Sabuk to find out why his thirty-something daughter kept asking him for money.

1/13/2017

article Jeju casino controller’s share offer undersubscribed
(South Korea) -- New Silkroad Culturaltainment Ltd, a firm that has a controlling interest in a foreigner-only casino on Jeju Island in South Korea, said on Thursday its...

1/12/2017

press release New Silkroad's Casino in Jeju Island Renames as MegaLuck
(Hong Kong) -- New Silkroad Culturaltainment Limited ("New Silkroad" or the "Company") ( HKSE : 00472 ) is pleased to announce that its casino at...

1/8/2017

article Paradise profits back in the black in South Korea
(South Korea) -- In the 12 months ending December 31, 2016, casino revenue of South Korean operator Paradise Co Ltd (034230.KQ) increased by 6.2 percent to KRW603.1bn (...

1/6/2017

article South Korea’s Paradise Co Ltd bounces back in 2016
(South Korea) -- South Korean casino operator Paradise Co Ltd was back in the black in 2016 following a troubled 2015. Figures released this week to the Korea Exchange...

12/29/2016

article Gaming outlook reason to drop Korea scheme: Lippo
(South Korea) -- Hong Kong-listed real estate developer Lippo Ltd has given some commentary in its 2016 interim report – filed on Thursday – regarding its...

12/19/2016

article Landing Casino tops South Korea anti-money laundering assessment
(South Korea) -- In South Korea, Landing International Development Limited has announced that its Landing Casino inside the Hyatt Regency Jeju hotel has come top of an...

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