South Korea Gambling Revenue rises to $17.6 Billion during 2016
2016 saw South Korea gambling revenue rise for the second year in a row. The sector grew 7.7% to reach $17.6 billion. During 2015 the sector grew 4%. The statistics were provided by the National Gambling Control Commission.
South Korea has 17 casinos but local gambling is restricted. South Koreans are are only allowed to gamble at one of them is which is located 150 kilometres south-east of Seoul in Kangwon province.
Revenue from the local casinos exceeded sales at the foreigner’s casinos by around 70%. Local South Korea gambling revenue has a strong home market.
Some major players have been involved in global casino investment. In the past 20 years we have seen countries legalizing gambling solely for profit. For example, Macau invented itself as an Asian gambling hub. Saipan is also throwing in billions of dollars to chase the Asian gambling market. Singapore has also developed resort style casino gambling.
Japan is seeking an investment of around 10 billion dollars to build a casino resort having just legalised casino gambling. They will not only be chasing their home market, the Asian market attracts the Chinese in abundance.
Macau is indisputably the gambling hub of the world. Macau gambling statistics show Macau gambling revenue exceeds Las Vegas by a factor of seven.
Recent Macau gambling statistics project for a promising future
Macau is the largest gambling hub in the world. Created out of an old Portuguese colonial outpost, Macau has brought glitzy Las Vegas style gambling to the far east. It is now a hotbed for legal gambling just across the border from China where gambling is illegal.
2016 gambling statistics show an overall increase of 3% with hotel occupancy up by 14%. There has been a marked increase in visitor numbers during recent months.
It has been 10 years since Atlantic City casino revenues increased. Atlantic City casinos have suffered from decline for many years. Maybe now this could this be a sustained return to positive revenue.
December 2016 was a bumper month for the Atlantic City casinos bringing home to total revenue of $2.60 billion. That was an increase of 1.5% on 2015. Atlantic City casino revenues were always positive from the conception of Atlantic City casinos in 1978 until 2006 when it all crashed. Now Atlantic City is recovering.
Macau gambling revenue finally rises during November. After two years of decline new gambling resorts have attracted more visitors. The informed are getting ready for another boom in Macau.
Macau Gambling Revenue Increase
Gambling revenue increased by 14.4 per cent during November, it was the fourth month of growth after two years of decline. Statistical data showed earnings had increased to 2.36 billion dollars in November.
Macau gained independence from China in 1999 and attracted billions of dollar of investment after legalizing gambling. Things were slow to begin with but then Macau became flooded with high rolling gamblers from China because gambling is illegal in China.