South Korea has over 20 casinos spread across the country and only one of these casinos (Kangwon Land Casino) allows locals to gamble. The rest of these casinos cater to foreign tourists who travel from all over the world to play at South Korean casinos.
VIP Gamblers Set To Travel To South Korea
South Korean casinos are set to benefit from an increase in the number of VIP gamblers traveling to their casinos. VIP gamblers who are also referred to as high-rollers are those players who often end up spending millions of dollars at the casino in just one trip. South Korean casinos are expected to benefit from a steady stream of Asian VIP gamblers with the majority of them coming from China.
Macau’s junket industry has come to an abrupt standstill in recent months after licensed casino operators in Macau decided to distance themselves from junket operators and VIP gamblers due to the crackdown from China. These junket operators have now decided to move their VIP gamblers over to South Korea.
Jeju Dream Tower casino is expected to see around 1,000 VIP gamblers enter their doors in August. It looks like Macau’s gaming losses are going to be South Korea’s gaming market gains at least for now!