South Korea to increase supervision of foreign casinos

south korea

Jeju Island also requires the companies to calculate the daily incomes.

Jesu Islands will intensify its supervision of foreign-only casinos in the area.

South Korea.- The provincial government said that their intention is to legislate and manage foreign-only casinos in order to improve and boost the transparency. According to the Jeju Island government, it’s an upgrade from the ordinance that was launched back in June.

The new legislation establishes that casinos need a permit system in order to let people in any restricted areas in their facilities, such as the storage room of gaming devices. The measure also says that the casinos must increase the number of security cameras to reduce blind areas. New game facilities must be built under the new rules.

Jeju Island also requires the companies to calculate the daily incomes, install electronic game tables, provide the serial numbers of each contract and sell poker chips at the gaming table. They also need to ask and store the ID’s of Korean visitors who are allowed to enter foreigner-only casinos.

South Korea’s casino industry has benefitted immensely from the collapse of Macau’s casino industry which was brought on by China’s anti-corruption crackdown. The South Korean government is in favour of the casino industry as it brings in a large amount of tax revenue. But the 16 casinos that depend on foreign visitors to generate gambling revenue faced a tough situation last year when tourism numbers dropped significantly.