Casino revenue South Korea 2023
In 2023, Kangwon Land Casino, located in Gangwon province, recorded revenue of approximately 1.32 trillion South Korean won. It was followed by Paradise Walker Hill Casino in Seoul and Paradise Casino in Incheon, with an income of about 354 and 329 billion won, respectively.
Casino culture in South Korea
South Korea’s casino market has been developed to attract more visitors by expanding into a complex resort business linked with the tourism industry. Accordingly, the revenue of casinos in South Korea has grown over the years, apart from the huge drop recorded during the COVID-19 pandemic. As only Kangwon land is allowed for Korean nationals, most casinos made their profits from foreign visitors, especially from China and Japan.
Gambling industry in South Korea
South Korea’s first legal gambling industry started in 1922 with horse racing. Since then, the gambling industry has expanded to other sectors, and its revenue has increased consistently during the last decade. The most popular gambling sectors enjoyed by people in South Korea were the lottery, sports betting, casino, and horse racing in terms of ranking by revenue. Among those sectors, South Koreans most visited gambling events for casinos and horse racing.
