Revenue reached KRW2.73tn (US$1.98bn).<\/p>\n\n\n\n\n\n\n\n
South Korea.- The\u00a0Ministry of Culture, Sports and Tourism<\/strong>\u00a0has reported that gambling revenue in South Korea grew by 40.7 per cent year-on-year in 2023,\u00a0from KRW1.94tn to KRW2.73tn (US$1.98bn). The figure represents a 93.1 per cent recovery compared to pre-Covid-19 levels.<\/p>\n\n\n\n The figure comprises the revenue of 16 foreigner-only casinos and Kangwon Land, the only property that permits gambling by locals. The\u00a0Mohegan Inspire Entertainment Resort<\/strong>\u00a0in Incheon\u00a0is not included\u00a0because, while it opened non-gaming facilities in November, its foreigner-only casino\u00a0opened in February\u00a0this year<\/a>.<\/p>\n\n\n\n The revenue of foreigner-only casinos rose by 96.9 per cent to KRW1.41tn, while Kangwon\u00a0Land’s\u00a0revenue<\/a>\u00a0increased by 7.9 per cent to KRW1.32tn. Total visits reached 4.48m,\u00a0a 40.5 per cent increase from 3.19m in 2022. Foreigner-only venues accounted for 46.1 per cent of these.<\/p>\n\n\n\n Paradise Co gaming revenue increased by 113.0 per cent<\/a>\u00a0in 2023 to KRW744.6bn (US$543m).\u00a0Grand Korea Leisure<\/a>\u00a0saw its gaming revenue increase by 49.8 per cent to KRW397.4bn (US$290m).<\/p>\n","protected":false},"excerpt":{"rendered":" Revenue reached KRW2.73tn (US$1.98bn).<\/p>\n","protected":false},"author":176,"featured_media":16185,"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 gambling sector reported a robust 40.7% year-on-year revenue growth in 2023, reaching KRW2.73tn (US$1.98bn), signifying a 93.1% recovery to pre-pandemic levels. This surge was primarily driven by foreigner-only casinos, which saw a 96.9% increase in GGR, alongside a more modest 7.9% rise for the domestic-facing Kangwon Land. Key operators like Paradise Co and Grand Korea Leisure significantly contributed to this market expansion.","focusai_entities":"Ministry of Culture, Sports and Tourism, Mohegan Inspire Entertainment Resort, Kangwon Land, Paradise Co, Grand Korea Leisure","focusai_location":"South Korea, Incheon","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.7), operator_casino (0.98), marketing_crm (0.75), payments_fraud_aml (0.7), investor_analyst (0.98), supplier_vendor (0.85), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Foreigner-only Casino Growth","query":"What specific market dynamics and source markets are driving the disproportionately high GGR growth in South Korea's foreigner-only casino segment compared to Kangwon Land?"},{"label":"Mohegan Inspire Impact","query":"How is the full operationalization of Mohegan Inspire Entertainment Resort's casino expected to impact the competitive landscape and overall GGR projections for South Korea's foreigner-only segment in 2024?"}],"footnotes":""},"categories":[28,16338],"tags":[23907],"class_list":["post-777015126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-casino-news","category-east-asia-news","tag-land-based-casino"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015126","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=777015126"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015126\/revisions"}],"predecessor-version":[{"id":777015158,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777015126\/revisions\/777015158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16185"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777015126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777015126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777015126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}