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South Korea: Revenue From Foreigners Only Casinos Increases By Over 30 Percent

South Korea: Revenue From Foreigners Only Casinos Increases By Over 30 Percent
South Korea: Revenue From Foreigners Only Casinos Increases By Over 30 Percent

South Korea’s foreigner-only casinos have posted a strong performance for 2018. The figures released by the National Gambling Control Commission, confirms that revenue from foreigners-only casinos has 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.

While the Korean gambling industry is expanding, there has been a significant rise in Gambling addiction amongst teenagers in Korea.

According to a recent report submitted to the National Assembly by the Korea Center on Gambling Problems (KCGP), the number of teenagers who received gambling addiction treatment in Korea has risen sharply in the last few years.

It has been reported that since 2015, there has been a 600 percent increase in teenagers receiving problem gambling treatment.

While in 2015, only 168 teenagers received gambling treatment, in 2018, the number went up to 1027.
Earlier last week, police in Seoul arrested 37 South Koreans after they were extradited from Malaysia on charges of illegal online gambling.

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Cameri Ross

Cameri Ross

Cameri is an independent and self employed person, she has expertise in digital marketing and content creation for websites and blogs. Her passion is dancing and singing, especially classical singing.

She can be reached out at: cameriross@casino.buzz

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