South Korea’s gambling tax revenue rose by 4 percent in 2015 amid persisting weakness in the Asian gambling sector.
Thanks to the gambling sector’s increased sale, the Asian country bucked the regional downward trend of gambling tax revenues and posted a KRW2.42 trillion (US$2.06 billion) profit in 2015 from KRW2.32 trillion (US$1.98 billion) in 2014.
Citing statistics from South Korea’s National Gambling Control Commission, Yonhap News Agency reported that the tax revenue from the gambling sector increased last year as its sales grew 3.1 percent year-on-year to KRW 20.5 trillion (US$17.47 billion).
South Korean government’s total gaming tax intake were collected from all gambling related businesses, including casinos and horse race betting.