{"id":22997,"date":"2021-09-27T12:24:56","date_gmt":"2021-09-27T15:24:56","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=22997"},"modified":"2026-04-23T15:19:38","modified_gmt":"2026-04-23T18:19:38","slug":"south-korea-casinos-report-turnover-of-us409-1m-for-h1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/south-korea-casinos-report-turnover-of-us409-1m-for-h1","title":{"rendered":"South Korea: casinos report turnover of US$409.1m for H1"},"content":{"rendered":"\n

South Korea\u2019s casinos have reported turnover of KRW480.45bn (US$409.1m) for the first half of the year.<\/p>\n\n\n\n\n\n\n\n

South Korea.-\u00a0The Korea Casino Association (KCA)<\/strong>\u00a0has reported that gambling turnover for the first half of the year was KRW480.45bn (US$409.1m)<\/strong>, compared to KRW1.04tn in 2020.<\/p>\n\n\n\n

In an interview with GGRAsia, it also revealed\u00a0that 619,221 people gave visited South Korean casinos<\/strong> in the year to date, compared to 1.76m in 2020 and 6.13m in in 2019. <\/p>\n\n\n\n

South Korea\u2019s casino industry has experienced a major impact due the Covid-19 pandemic <\/strong>as 16 of the country\u2019s 17 casinos are foreigner-only venues. Venues have been required to reduce operational capabilities and some have closed for periods.<\/p>\n\n\n\n

According to data from the Korea Casino Association,\u00a0Kangwon Land Inc.<\/a>, the only casino in South Korea that is open to locals, had\u00a0casino sales of KRW302.17bn\u00a0<\/strong>in the first half of the year. It welcomed 286,611 tourists.<\/p>\n\n\n\n

In 202,0 the casino operator reported sales for KRW443.55bn and registered a tally of 599,265 visitors.<\/p>\n\n\n\n

In the first half of this year,\u00a0the total gaming sales of the 16 foreign-only casinos in South Korea came to KRW178.29bn\u00a0<\/strong>while the full-year sales in 2020 were KRW597.8bn.\u00a0<\/p>\n\n\n\n

In the first half of 2021, the total number of visits to foreigner-only casinos was 332,610<\/strong>. For the whole year of 2020, the total was 1,157,698 and in 2019, the number of visits to these 16 casinos reached 3,233,761.<\/p>\n\n\n\n

South Korea gaming tax revenue down 82.4% in 2020<\/h2>\n\n\n\n

South Korean authorities have reported that the collection of gaming taxes declined 82.4 per cent year-on-year in 2020 <\/strong>to <\/strong>KRW81.8bn (US$70.5m).<\/p>\n\n\n\n

Tax revenue from Kangwon Land Inc<\/strong> plummeted 83.3 per cent from KRW357.8bn to KRW59.9bn in 2020. However, that figure was twice as much as South Korea\u2019s 16 foreigner-only casinos combined<\/strong>. Kangwon Land accounted for 14.8 per cent of the country\u2019s 2020 gambling tax revenue.<\/p>\n\n\n\n

Gaming tax revenue from the rest of the casinos declined 79.7 per cent to KRW21.9bn<\/strong>. South Korean casinos also need to make contributions to a number of funds. In 2020, such donations totalled KRW322.6m.<\/p>\n\n\n\n

Kangwon Land alone contributed KRW268.7bn in fund donations during 2020<\/strong>, down 8.2 per cent year-on-year, while the contribution from foreign-only casinos was KRW53.9m, a decrease of 60.7 per cent.<\/p>\n\n\n\n

South Korea\u2019s overall tax revenue from gaming in 2020 was KRW404bn<\/strong>, a drop of 82.9 per cent when compared to KRW2.36tn in 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"

South Korea\u2019s casinos have reported turnover of KRW480.45bn (US$409.1m) for the first half of the year.<\/p>\n","protected":false},"author":176,"featured_media":18629,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"South Korea's casino sector reported a significant decline in H1 2021 turnover and visitor numbers, continuing the trend from 2020, primarily due to COVID-19 restrictions impacting its predominantly foreigner-only venues. Gross Gaming Revenue (GGR) and associated tax revenues plummeted, with Kangwon Land, the sole local-access casino, demonstrating relative resilience in contributions despite overall market contraction.","focusai_entities":"Korea Casino Association, Kangwon Land Inc.","focusai_location":"South Korea","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Recovery Timeline Projections?","query":"What is the projected timeline for recovery in South Korea's foreigner-only casino segment, contingent on international travel resumption and revised regulatory frameworks?"},{"label":"Operator Capital Strategy?","query":"How are South Korean casino operators adjusting their capital expenditure and operational expenditure strategies in response to sustained GGR contraction and reduced fund contributions?"}],"footnotes":""},"categories":[157,16333],"tags":[229,16471],"class_list":["post-22997","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-south-east-asia-news","tag-gambling","tag-kangwon-land"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22997","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=22997"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22997\/revisions"}],"predecessor-version":[{"id":23019,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/22997\/revisions\/23019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18629"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=22997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=22997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=22997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}