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South Korea Bets on Chinese Gamblers

7 June 2005

SOUTH KOREA – As reported by the Bangkok Post: "South Korea is betting on a new US$120 million casino project to lure more Chinese gamblers to a market that has traditionally focused on Japanese high-rollers.

"There are currently 13 casinos in South Korea that draw about 600,000 gamblers a year, mostly Japanese and Chinese.

"With about a half billion dollars in annual revenue, South Korea's casino industry is still far behind the former Portuguese colony of Macau, which is about to surpass Las Vegas as the world's richest gambling venue. Macau reportedly attracted 16.7 million visitors last year who spent about $5 billion.

"…While casinos in South Korea have previously been operated mostly for the high-roller Japanese customers, who usually spend at least some 10 million won ($10,000) of gambling money on each visit, the new casinos are designed to attract pure amateur gamers from China or Japan who look for gambling as part of their night-time fun…"

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