In 2004 the government in South Korea granted three additional casino licences, two in the capital Seoul and one in the port city of Busan. At the time the hotels chosen by the state-run Korea National Tourism Organisation (KNTO) for the foreigners-only casinos caused some discontent amongst other hotel owners. The new licences also caused protest from casino industry workers on the resort island of Cheju, where casinos are vital to the economy.

The expansion in casinos was in response to the increasing numbers of casino visitors and tourists coming into Korea. Recent industry figures show that the two casinos operating in Busan are flourishing because of the increase in foreign visitors, mainly Chinese and Japanese, to the country’s largest port. The results through September this year are 18% up on last year’s, at just above US$49 million. Casino Busan at the Paradise Hotel was the only casino in the city until the Seven Luck Casino at the Busan Lotte Hotel opened in June 2006, following the KNTO award of an additional licence.

In the first nine months of 2008, Seven Luck revenue for the first time was higher than that of Casino Busan. Visitor numbers to Seven Luck were almost double those at Casino Busan. Foreign tourists visiting the casinos over the same period have risen 55% from 2006. The local economy is benefiting from the casino operations as gamblers apparently stay longer and spend more than non-gamblers. (E-10.03.08)

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