South Korea | World Casino News

Paradise Group makes first American purchase

August 22, 2016

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

South Korean casino operator Paradise Group has made its first acquisition in the United States after spending $26 million in order to purchase a 167-room hotel in downtown Orlando, Florida. Responsible for ...

Grand Korea Leisure reports significant second quarter improvement

Kim M

August 15, 2016

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

In this year’s second quarter, South Korean operator Grand Korea Leisure Co Ltd.’s (114090.KS) net income rose to KRW25.6bn (US$23.1m), a year-on-year increase of 38.1 percent, according to a G3 Newswire report...

Kangwon Land is against Saemanguem casino for Korean residents

Sadonna Price

August 11, 2016

Latest Casino and Gambling News, South Korea

In South Korea, the only operator to offer a casino resort to nationals is Kangwon Land Inc. Operating the Kangwon Land Casino and Hotel, the company is not happy about recent developments in regards to a secon...

People’s Party wants revised bill to allow second casino in South Korea to permit locals to gamble

Renee Kingsley

August 5, 2016

Casino proposals, Latest Casino and Gambling News, Gaming Law & Legislation, Licenses, South Korea

South Korea has seventeen casinos and only the Kangwon Land casino resort in Kangwon province allows locals to gamble. The casino industry in South Korea has continued to thrive during the last couple of years ...

Consortium signs land deal for new South Korea casino resort

Adam Morgan

August 2, 2016

Latest Casino and Gambling News, Casino proposals, Mergers, Acquisitions & Partnerships, South Korea

In South Korea, a consortium led by American casino operator Mohegan Tribal Gaming Authority has signed an agreement with Incheon International Airport Corporation to build an integrated casino resort on Yeongj...

Changes in Japan’s political environment brings casino legislation once again to the forefront

Renee Kingsley

July 30, 2016

Latest Casino and Gambling News, Gaming Law & Legislation, Casino proposals, Economy/Finance, Japan, Licenses, Asian Casino News, Macau, Philippines, South Korea

Gaming analysts believe that Japan is in a great position to benefit from legalizing the casino industry and Union Gaming analyst Grant Govertsen recently confirmed that a change in the country’s political envi...

North Korea profiting from lucrative online gambling industry and cyber operations

Renee Kingsley

July 19, 2016

Latest Casino and Gambling News, Hacking, Unlicensed Operation, South Korea

North Korea has an image in the international community of being one of the most secretive and guarded countries in the world right now under the leadership of Kim Jong Un. Gambling is illegal in North Korea bu...

June sales nearly double for South Korean casino operator

Adam Morgan

July 7, 2016

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

South Korean casino operator Paradise Company Limited has released its consolidated financial results for June showing a 99.2% increase year-on-year in total sales to approximately $39.6 million. According t...

Possible Casino Resorts In Busan, South Korea discussed during international forum

Renee Kingsley

July 6, 2016

Gaming Law & Legislation, Casino proposals, Latest Casino and Gambling News, China, Macau, Singapore, South Korea

The first ever Global Busan Tourism Forum was held in Busan towards the end of June 2016 and one of the hot topics discussed was the possibility of developing a mega casino resort in Busan that would boost tour...

Macau junket promoter Iao Kun to acquire Jeju Sun in Korea for $100m

Martin Chua

June 26, 2016

Latest Casino and Gambling News, Macau, Mergers, Acquisitions & Partnerships, South Korea

Bloomberry Resorts Corp. said in a filing the Philippine Stock Exchange last week that it's subsidiary Solaire Korea Co. Ltd is selling their 96.23 percent share in the company that owns Jeju Sun Hotel & C...

South Korean Casino project receives additional investment from Genting Singapore

Renee Kingsley

June 22, 2016

Casino proposals, Latest Casino and Gambling News, Singapore, South Korea

South Korea’s casino industry has benefited from the downturn in Macau’s casino industry and a number of gambling operators across the world are looking to invest heavily into the South Korean casino industry. ...

Jeju Sun performance prompts Bloomberry to consider selling Korean casino

Lars Jones

June 20, 2016

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

After having operated the Jeju Sun Hotel and Casino on Jeju Island, South Korea for less than a year, Bloomberry Resorts Corp has confirmed to media in a Philippine Stock Exchange filing that, “The company conf...

Las Vegas Sands continuing campaign for South Korea development

Adam Morgan

June 15, 2016

Casino proposals, Latest Casino and Gambling News, Gaming Law & Legislation, South Korea

Las Vegas Sands Corporation is reportedly continuing with a plan to build a version of its Marina Bay Sands resort casino in South Korea and has sent representatives to Busan in order to investigate possible si...

Summons issued to unit of Hong Kong firm over Jeju slots deal

Kim M

June 7, 2016

Latest Casino and Gambling News, Fines, Lawsuits & Litigation, South Korea

Jeju District Court, located in South Korea, issued a summons to a unit of New Silkroad Culturaltainment, “due to an indictment brought by Jeju District Prosecutor Office for outsourcing management of slot mach...

South Korea government rejects Jeju casino tax rate proposal

Adam Morgan

May 24, 2016

Latest Casino and Gambling News, Taxation, South Korea

In South Korea, the national government has rejected a local proposal that would have seen the tax rate on gross gaming revenues for the eight casinos in the island province of Jeju double to 20%. According ...

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Paradise Group makes first American purchase

Grand Korea Leisure reports significant second quarter improvement

Kangwon Land is against Saemanguem casino for Korean residents

People’s Party wants revised bill to allow second casino in South Korea to permit locals to gamble

Consortium signs land deal for new South Korea casino resort

Changes in Japan’s political environment brings casino legislation once again to the forefront

North Korea profiting from lucrative online gambling industry and cyber operations

June sales nearly double for South Korean casino operator

Possible Casino Resorts In Busan, South Korea discussed during international forum

Macau junket promoter Iao Kun to acquire Jeju Sun in Korea for $100m

South Korean Casino project receives additional investment from Genting Singapore

Jeju Sun performance prompts Bloomberry to consider selling Korean casino

Las Vegas Sands continuing campaign for South Korea development

Summons issued to unit of Hong Kong firm over Jeju slots deal

South Korea government rejects Jeju casino tax rate proposal

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