{"id":16112,"date":"2021-03-23T15:12:27","date_gmt":"2021-03-23T15:12:27","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=16112"},"modified":"2026-04-23T20:56:01","modified_gmt":"2026-04-23T23:56:01","slug":"jeju-casino-sales-down-63-6-in-2020","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/jeju-casino-sales-down-63-6-in-2020","title":{"rendered":"Jeju casino sales down 63.6% in 2020"},"content":{"rendered":"\n<p>The South Korean holiday island of Jeju has reported that casino sales fell to KRW69.30bn (US$61.5m) in 2020.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South Korea.- Casinos on Jeju island together saw <strong>sales decline by 63.6 per cent year-on-year<\/strong> in 2020 to <strong>KRW69.30bn (US$61.5m)<\/strong>.<\/p>\n\n\n\n<p><strong>That compares to sales of KRW190.0bn (US$168.7m)<\/strong>, in 2019, before the global Covid-19 pandemic resulted in <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/casinos-in-south-korea-extend-covid-19-closures-2\" target=\"_blank\">lockdowns and restrictions on tourism.<\/a><\/em><\/p>\n\n\n\n<p>Only<strong> four Jeju casinos out of a total of 16 foreigner-only venues remained operational through most of 2020<\/strong>: Paradise Co\u2019s Paradise Casino Jeju Grand, Landing Casino at Jeju Shinhwa World, Casino Lotte Tour at Lotte Hotel Jeju and Gongzi Jeju.<\/p>\n\n\n\n<p><strong>The Jeju Tourism Promotion Fund depends on casino sales <\/strong>as the island&#8217;s gaming venues contribute up to 10 per cent of their sales to the fund, accounting for <strong>80 per cent of the fund\u2019s total resources<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Jeju Dream Tower casino approval in doubt<\/h2>\n\n\n\n<p><strong>Lotte Tour Development Company <\/strong>had hoped to have <strong>the necessary permissions to open its new casino in the Jeju Dream Tower by March<\/strong>, but it appears that&#8217;s not going to happen.<\/p>\n\n\n\n<p>The 1,600-room <em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/jeju-tower-obtains-hotel-permit-for-grand-opening\" target=\"_blank\">Grand Hyatt hotel was inaugurated with the rest of the tower on December 18<\/a><\/em>, but the casino has not yet launched.<\/p>\n\n\n\n<p>A local citizens&#8217; group has claimed that <strong>official public opinion surveys have been manipulated<\/strong>, causing the provincial council to suspend its review of <strong>the casino licensing application<\/strong>. It has pledged cooperation with a police investigation.<\/p>\n\n\n\n<p><strong>The Dream Tower foreigner-only casino<\/strong> is due to have 140 gaming tables, 190 slot machines, and 70 electronic gaming machines.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The South Korean holiday island of Jeju has reported that casino sales fell to KRW69.30bn (US$61.5m) in 2020.<\/p>\n","protected":false},"author":176,"featured_media":16113,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Jeju island's casino sales plummeted by 63.6% in 2020 to KRW69.30bn (US$61.5m) due to COVID-19 restrictions, significantly impacting the Jeju Tourism Promotion Fund. Concurrently, the licensing approval for Lotte Tour Development Company's Jeju Dream Tower casino is now uncertain following allegations of manipulated public opinion surveys and a pending police investigation.","focusai_entities":"Paradise Co, Landing Casino, Casino Lotte Tour, Gongzi Jeju, Lotte Tour Development Company, Grand Hyatt, Jeju Tourism Promotion Fund","focusai_location":"South Korea, Jeju","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Jeju Fund Impact","query":"What are the projected long-term implications of the sustained GGR decline on the Jeju Tourism Promotion Fund's solvency and its ability to support regional development initiatives?"},{"label":"Dream Tower Licensing","query":"What specific governance framework deficiencies or procedural irregularities are being investigated regarding the Jeju Dream Tower casino licensing, and what is the anticipated timeline for resolution and potential re-initiation of the review process?"}],"footnotes":""},"categories":[16338,163],"tags":[23766,23907],"class_list":["post-16112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-jeju-island","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=16112"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16112\/revisions"}],"predecessor-version":[{"id":16143,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/16112\/revisions\/16143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16113"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=16112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=16112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=16112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}