It’s interesting that South Korea, a country recognized for its technology skills and entertainment exports, has among of the tightest gambling laws in the world. There are many casinos in the country, but practically all of them are only for tourists. Only Kangwon Land is open to locals. The future of casino licensing here won’t be a big change to a more open system; instead, it will be a planned, tightly regulated change. To figure out what will happen next in South Korea’s gaming scene, you need to understand how to strike a balance between commercial ambition and social caution.
Finding Your Way Through Growth and Control
Tourism and Integrated Resorts are the Focus
The main goal for future casino licenses is to build integrated resorts (IRs) that are specifically meant to attract tourists. The launch of Inspire Entertainment Resort in Incheon, the first casino license for foreigners only in almost 20 years, shows that the government wants to build big, fancy resorts for wealthy international tourists. These IRs are thought to be important for the growth of tourism as a whole since they bring together casinos, hotels, conference centers, and entertainment facilities. The goal is still to bring in foreign revenue and show off Korean culture, not to make it easier for citizens to gamble, which is mostly illegal for social reasons.
Summary
There won’t be a lot of new casinos opening up in South Korea in the near future. Instead, it’s a slow, planned growth aimed at building massive, foreigner-only integrated resorts to boost tourism. Even though the government wants to make money, it is quite strict about social control and fighting illegal gambling. This means that new licenses will be hard to get and will only be given out under strict rules, always putting the country’s distinctive approach to the gaming business first.
