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South Korean Casino Losing Proposition for Locals8 May 2003SOUTH KOREA -- As reported by the Korea Times: "The country's only casino that allows Korean nationals to gamble has been found to give a lower return rate for customers than the 13 other foreigners-only casinos here. "The Ministry of Culture and Tourism (MCT) yesterday said KangwonLand Casino returns 78.5 percent of the money bet, 3 percentage points lower than the average of 81.5 percent for the other 13 casinos. "Paradise Olympus Casino in Inchon gives back the highest return of 85 percent of the total sum bet. The return rates are 84.2 percent at the Paradise Walkerhill Casino and 84.3 percent at Lotte Hotel in Cheju Island. "...According to MCT regulations, casino operators are obliged to give back at least 75 percent of bets for slot machines, but there is no guideline for gaming tables..." |