South Korea’s casinos posted almost KRW3.23 trillion (US$2.30 billion) in gross gaming revenue (GGR) in 2024, according to figures from the Ministry of Culture, Sports and Tourism.
That 2024 industry-wide GGR was up 18.3 percent from KRW2.73 trillion the previous year, according to ministry data.
Last year’s tally was also 10.1 percent up on the KRW2.93 trillion achieved in 2019, the trading year immediately before the Covid-19 pandemic.
The 2024 aggregate GGR figure covers the country’s 17 casinos, including the ones for foreigner-only play as well as Kangwon Land, the nation’s only casino that allows locals to bet.
The improvement coincided with recovery in levels of inbound tourism to South Korea, as shown by other government data.
Total visitor volume to the country’s foreigner-only casinos was up 42.4 percent year-on-year in 2024, at just over 2.94 million, from just under 2.07 million in 2023.
Visitor volume in 2024 to Kangwon Land’s casino available to locals, was just over 2.37 million. That was 1.6 percent down, on the just above 2.41 million achieved in 2023.
In 2023, the country had one fewer foreigner-only casino. Inspire Entertainment Resort was the newcomer in 2024, opening its casino in February last year. Inspire Casino contributed KRW173.3 billion to the ministry’s 2024 data.
In 2024, foreigner-only casinos as a whole, generated KRW1.86 trillion GGR, a 32.3 percent increase from 2023.
The domestic-player monopoly, Kangwon Land Casino, run by Kangwon Land Inc, recorded a 3.3 percent increase in GGR year-on-year, to circa KRW1.36 trillion.
The government’s gaming revenue figures are net of bad debt, complimentary allowances, and commissions; thus they may differ slightly from those reported by industry operators.