South Korea Launches New Casino Industry Association To Enhance Industry Reputation

Summary:

• New casino association will work to build a positive image of casino industry
• The casino association was launched on May 30 and has so far attracted around 70 members
• South Korea will see the opening of its 18th casino with the launch of Inspire Entertainment Resort

South Korea has launched a new association tasked with promoting the country’s casino industry. Called the “Association of Korea Gaming Tourism Professionals”, the new body will work to change South Koreans’ negative perception of the real money casino sector.

Association of Korea Gaming Tourism Professionals – Main Objectives

The association has been set up with three major objectives: to improve the competitiveness of South Korea’s casino industry; to promote training and licensing of casino professionals; and to develop a customer service mindset within the industry. It will operate under the Ministry of Culture, Sports, and Tourism, the government agency that has oversight of the country’s gaming sector.

The Association of Korea Gaming Tourism Professionals was launched on May 30 and is currently led by An Ock Mo. The association’s president has acknowledged that casinos are still being viewed negatively in South Korea and addressing that will be one of their priorities.

The new organization will work alongside existing casino operators in the country and will also collaborate with tourism professors at universities to develop a training system for dealers and other casino employees, with an end goal of promoting a service mindset, An stated.

The association is also looking forward to joining forces with the casino industry in Macau on gaming-related initiatives.

According to An, around 70 members have so far joined the newly-formed industry group since its launch last week. Among the members are tourism academics, as well as former and current figures within the sector, some of whom have links to Kangwon Land Resort, the only casino in the country permitted to accommodate domestic players.

Individuals connected to other casino operators, such as Paradise Co Ltd and Grand Korea Leisure Co Ltd, have also joined the association.

South Korea is home to a total of 17 casinos, most of which offer their games exclusively to foreigners. The industry achieved strong results during the first quarter of the year and gaming analysts expect the recovery to continue in the second half of 2023 with the return of Chinese visitors.

Inspire Entertainment Resort Opening

South Korea’s newest integrated resort, Inspire Entertainment Resort, located in Incheon and owned by the US-based Mohegan Tribal Gaming Authority, is set to open its non-gaming facilities by the end of 2023.

The company does not expect any further equity injections apart from the previously announced additional investment of KRW155 billion (US$119 million).