South Korean lottery expects more growth

Lottery operators are expected to increase their annual revenues in South Korea.

Korea.- The government of South Korea has announced that the gaming industry is growing in the local market, as lottery operators have increased their annual revenues. According to the official statement, lottery operators throughout South Korea are expected to reach the highest revenue “this year since tickets first went on sale 14 years ago.”

The report was published last Sunday by the Korea Lottery Commission, revealing that this modality of gaming has surpassed the results from last year, based on the operations held from January to the second week of December. In total, lotto sales this year have reached 3.61 trillion, whilst in 2016 the total was of 3.55 trillion.

South Korea’s government seeks to bring in foreign investment and tourists, creating a business environment to attract more than 25 trillion won in investment to build the tourism industry and corporate competitiveness. The government also plans to increase the number of casinos in the nation from the existing 17 facilities to over 20 by early 2020. Most of these casinos are smaller than those in Macau and Las Vegas, the world’s biggest casino hubs.