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Intense Growth in Korea's Gambling Industry

22 January 2002

KOREA – Jan. 22, 2002 –- As reported by Leisure World Asia: "Gambling is expected to get more intense and recreation more serious, as Koreans find extra time on their hands with newly institutionalised five-day work weeks and the growth of leisure spots.

"Korea's recreation and gambling industry ballooned by 45 per cent last year, posting a revenue of 9.22 trillion won (US$7 billion) compared to the 6.43 trillion won (US$4.8 billion) it made in 2000, according to numbers released by the Korea Leisure Industry Consulting.

"…Close to 22.61 million people frequented these sports and entertainment facilities last year, up 47.7 per cent from the year before, the Institute said.

"In order of revenue earned, horse racing pulled in 6 trillion won (US$4.5 billion) last year, followed by the 2.15 trillion won (US$1.6 billion) made from the bicycle race tracks, then 450 billion won (US$341 million) pulled at the local casino Kangwon Land, and finally, the 600 billion won (US$455 million) worth of lottery tickets sold last year…"

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