S.Korea’s foreigners-only casinos suffer poor profit

Q: How long will it take to read this news story?

The story "S.Korea’s foreigners-only casinos suffer poor profit" has 708 words across 33 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "S.Korea’s foreigners-only casinos suffer poor profit" was covered 3 hours ago by Korea Economic Daily, a news publisher based in South Korea.

Q: How trustworthy is 'Korea Economic Daily' news outlet?

Korea Economic Daily is a fully independent (privately-owned) news outlet established in 1964 that covers mostly economy news. The outlet is headquartered in South Korea and publishes an average of 7 news stories per day. It's most recent story was published 4 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #22131277</li><li>URL: https://beamstart.com/news/skoreas-foreigners-only-casinos-suffer-17240395658</li></ul>

Korea Economic Daily Logo Korea Economic Daily 3h ago

S.Korea’s foreigners-only casinos suffer poor profit - Korea Economic Daily

Quick Summary:

Despite a fall in the hold percentage, Korea’s foreigners-only casinos expect their earnings to grow throughout the year.“We expect more Japanese tourists will visit in the second half, and revenue from high-net-worth VIPs making big bets is on a steady rise,” said an official from Paradise Casino.

Thanks to the higher hold percentage, Kangwon Land Inc., the operator of Korea’s only casino open to locals, reported 73.4 billion won in operating profit for the second quarter, beating the market expectations of 71.0 billion won despite falls in visitors and the drop by 5% on-year, respectively.

Foreigners-only casino operators in South Korea reported weaker-than-expected operating profit in the second quarter as prolific gamblers traveling from China have swept game tables, more than offsetting increases in the number of casino visitors and drop value.