South Korea’s Foreigner-only Casinos Post Strong Performance In August

South Korea’s Foreigner-only Casinos Post Strong Performance In August

Foreigner-only casino in South Korea has posted a strong performance for August. The two of the leading gambling operators Paradise Co and Grand Korea Leisure (GKL) have reported a year-on-year increase in revenues for the previous month.

Gambling operator Paradise Co, which owns and operates the Paradise City integrated resort in Incheon as well as Paradise Walker-hill in Seoul, Jeju Grand and Busan Casino, has posted a significant 36.1% year-on-year increase in casino revenue in August to KRW69.28 billion.

The increase in revenue has been largely attributed to the higher number of visitors and also the increase in table game revenue which rose by 24.4% to KRW623.03 billion. The gambling company reported a 39.1 percent year-on-year increase in table game revenue to KRW65.94. However, slot machine revenue dropped 4.3% to KRW3.35 billion.

On the other hand, GKL, which is a subsidiary of the Korea Tourism Organization posted a 4.5% year-on-year increase in casino sales in August to KRW53.01 billion. The gambling operator runs two casinos one each in Seoul and Busan under its Seven Luck brand.

The gambling operator posted a 4.0% increase in table game sales to KRW47.85 billion.

Revenue from foreigner-only casinos in South Korea also increased by also jumped from KRW1.21 trillion in 2017 to KRW1.63 trillion ( US$1.38 billion approx) in 2018.

The revenue from foreigners-only casinos contributed 7.26 percent of the entire gambling revenue generated by Korean casinos in 2018.

Moreover, the number of visitors at the foreigners-only casinos in Korea increased from 2.22 million visits in 2017 to 2.84 million visits.

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