South Korea

Jeju Province cancels plan to allow South Korean nationals into its casinos

January 7, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Online Gambling News, South Korea

In South Korea and the government for the semi-autonomous province of Jeju has reportedly shelved a controversial proposition that would have allowed mainland citizens to enjoy gambling at any of the island ter...

Jeju Dream Tower chalks up a positive December performance

Adam Morgan

January 6, 2022

Latest Casino and Gambling News, Casino News, Casino expansion projects, New Hotels, Gaming Industry News, Economy/Finance, South Korea

In South Korea and local casino operator Lotte Tour Development Company Limited has reportedly announced that the new Jeju Dream Tower development generated its first ever positive monthly earnings in December....

Grand Korea Leisure Company Limited records disappointing 2021 financials

Adam Morgan

January 4, 2022

Latest Casino and Gambling News, Casino News, Gaming Industry News, Economy/Finance, Mergers, Acquisitions & Partnerships, South Korea

In South Korea and well-known local casino operator Grand Korea Leisure Company Limited has reportedly released its financial results for the whole of 2021 showing that its annual gross gaming revenues had drop...

Grand Korea Leisure Company Limited inks deal to relocate Seoul casino

Adam Morgan

December 29, 2021

Latest Casino and Gambling News, Casino News, Casino closures, Gaming Industry News, Economy/Finance, Mergers, Acquisitions & Partnerships, South Korea

In South Korea and local casino operator Grand Korea Leisure Company Limited has reportedly announced that will be relocating the Seven Luck-branded gambling enterprise it runs within the Millennium Hilton Seou...

Lacklustre November financials for Paradise Company Limited

Adam Morgan

December 6, 2021

Latest Casino and Gambling News, Casino News, Gaming Industry News, Economy/Finance, South Korea

In South Korea and local casino operator Paradise Company Limited has reportedly announced that its aggregated November gaming revenues fell by 53.6% month-on-month to sit just shy of $8.4 million as it continu...

Mohegan Gaming and Entertainment secures Inspire Entertainment Resort funding

Adam Morgan

November 30, 2021

Latest Casino and Gambling News, Tribal Gaming, Casino News, Gaming Industry News, Casino project updates, Economy/Finance, Mergers, Acquisitions & Partnerships, South Korea

American tribal casino operator Mohegan Gaming and Entertainment has announced the securing of approximately $1.55 billion in aggregate financing that will allow it to complete work on the first phase of its co...

South Korean players to grow increasingly valuable to Asian casino operators

Adam Morgan

November 17, 2021

Latest Casino and Gambling News, Casino News, Gaming Industry News, Economy/Finance, Conferences / Trade Shows, Asian Casino News, South Korea

Asian casino operators will likely increase their marketing efforts towards prospective customers from South Korea over the next few years owing to the continued coronavirus-related absence of mainland Chinese ...

Kangwon Land Incorporated records improved third-quarter net profit

Adam Morgan

November 9, 2021

Latest Casino and Gambling News, Casino News, Gaming Industry News, Economy/Finance, South Korea

In South Korea and local casino operator Kangwon Land Incorporated has reportedly released its unaudited third-quarter financial results showing that its net profit increased by almost 150% year-on-year to hit ...

South Korean politician suggests implementing ‘proxy gambling’ at casinos

Adam Morgan

October 20, 2021

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Online gambling regulation, Gaming Industry News, Economy/Finance, Employment & Careers, Online Gambling News, South Korea

In South Korea and a prominent federal politician has reportedly suggested that the nation’s collection of 17 foreigner-only casinos be allowed to start offering mobile wagering so as to more quickly recover fr...

Paradise Company Limited feeling the impact of coronavirus

Adam Morgan

October 6, 2021

Latest Casino and Gambling News, Casino News, Gaming Industry News, Economy/Finance, Taxation, South Korea

In South Korea and local casino operator Paradise Company Limited has reportedly announced that its aggregated September gaming revenues fell by 53.6% year-on-year to just shy of $8 million. According to a r...

Coronavirus consequences for South Korean casino tax revenues

Adam Morgan

September 3, 2021

Latest Casino and Gambling News, Gaming Industry News, Economy/Finance, Taxation, South Korea

The tax contribution from the 17 casinos in South Korea reportedly fell by 82.4% on a comparative basis last year to approximately $70.7 million largely as a direct result of the turmoil associated with the ong...

Mohegan Gaming and Entertainment releases hopeful South Korea update

Adam Morgan

August 13, 2021

Latest Casino and Gambling News, Tribal Gaming, Casino News, Gaming Industry News, Casino project updates, Economy/Finance, Mergers, Acquisitions & Partnerships, South Korea

American tribal casino operator Mohegan Gaming and Entertainment has reportedly declared that it is now hopeful of being able to start welcoming guests to its Inspire Entertainment Resort development in South K...

Optimistic third-quarter prediction for Kangwon Land Casino

Adam Morgan

August 11, 2021

Latest Casino and Gambling News, Casino News, Gaming Industry News, Economy/Finance, South Korea

Financial services giant JPMorgan Chase and Company has reportedly forecast that South Korea’s Kangwon Land Casino will likely record an around 20% sequential rise in third-quarter gross gaming revenues due to ...

COVID-19 continues to affect Grand Korea Leisure as low monthly revenues figures recorded in July

Sadonna Price

August 4, 2021

Latest Casino and Gambling News, Economy/Finance, South Korea

The continued surges in positive COVID-19 cases have caused casinos in Asia to record monthly losses. In several areas of the country, case counts are rising, and restrictions are coming back into play, negativ...

Former Kangwon Land Incorporated boss begins three-year prison term

Adam Morgan

July 26, 2021

Latest Casino and Gambling News, Casino News, Gaming Industry News, Employment & Careers, Crime, South Korea

In South Korea and the former Chief Executive Officer for local casino operator Kangwon Land Incorporated has reportedly started serving a term of three years in prison after earlier being found guilty of parti...