Revenue for Korea’s gaming sector enjoyed a 7.1% rise in revenue to KRW21.98 trillion (US$19.5 billion) in 2016 on the back of strong increases in the lottery and Sports Toto sectors, according to new figures released by the National Gambling Control Commission.
Lottery sales grew 9.3% last year to KRW3.89 trillion (US$3.5 billion) while Sports Toto, a form of pari-mutuel betting, jumped 29.1% to KRW4.44 trillion with its market share up from 16.82% to 20.21% in the past 12 months.
Korea’s 16 foreigner-only casinos saw their combined revenue rise 2.6% in 2016 to KRW1.28 trillion, however they again fell well below the performance of Kangwon Land – the only property at which locals are allowed to gamble.
Kangwon Land saw its revenue rise again in 2016 to KRW1.63 trillion, an increase of 4.3%, with a total of 3.17 million people visiting the remote premises during the year.
Notably, Korea’s foreigner-only casinos attracted around 250,000 fewer people in 2016 than 12 months earlier, but the average bet per person grew from US$47.56 to US$53.99.
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