Despite A Tough Year South Korean Punters Keep Betting
By Brian Cullingworth, Last updated Mar 10, 2017
Marked rise in lottery, casino and racing revenues
Despite a persistent economic slowdown, South Korean punters continued to place their bets in 2016, media reports from the region indicate, noting that lottery, casino and horse racing revenues all increased markedly.
The sole legal land casino, Kangwon Land posted an almost 4 percent y-o-y rise in sales to KRW 1.7 trillion; lottery ticket sales were up 9.3 percent at KRW3.9 trillion; and revenue from horse racing was marginally up at a still-impressive KRW 7.7 trillion, whilst cycle racing delivered a 1.7 percent sales increase year-on-year to reach KRW 1.9 trillion.
The big money, however, came from land casino operations that are focused exclusively on foreign visitors, which generated KRW 20.5 trillion in sales to create a new milestone.
Online Casino News Courtesy of Infopowa
Infopowa news was a staple of Casinomeister’s news from 2000 until 2019. Brian Cullingworth was the main writer, contributor, and was one of the most knowledgeable persons I have ever known involved in the online casino industry.
We first met in January 2001 at the ICE in London where I observed him going booth to booth interviewing online casino, software, and licensing jurisdiction representatives. Brian was also heavily involved with our forum as “Jetset“, he was involved as an informal consultant to eCOGRA, the OPA, and was a player advocate who assisted countless aggrieved players with his connections to industry folks. He also published “Casino Cautions” via Infopowa news for quite a number of years. These can be found in our news archives.
His passing in February 2019 was a dark day for us. He will be forever missed.
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