South Korea’s foreigner-only casinos posted weaker turnover in 2017 as the brick-and-mortar facilities welcomed fewer visitors last year.
Latest figures from the country’s National Gambling Control Commission (NGCC) showed that turnover of foreigner-only casinos fell by 5.37 percent to less than KRW1.21 trillion (US$1.09 billion) in 2017. The NGCC did not provide a reason for the slump but the agency noted a decline in the number of casino visitors.
The number of visitors who trooped to South Korea‘s 16 foreigner-only casinos dropped by 6.22 percent to 2.22 million visitors last year. According to the NGCC, foreigner-only casinos account for 5.56 percent of the country’s total gaming turnover.
South Korean casino operator Paradise Co. Ltd., which operates four foreigner-only casinos, including the country’s first major integrated resort Paradise City, took a beating in 2017 thanks to the ongoing diplomatic tensions with China.