South Korea’s foreigner-only casinos are experiencing renewed momentum this year, driven by a robust recovery in inbound tourism and anticipated surge in Chinese group travel during the second half of the year, according to a recent analysis by Shinhan Securities.
Unlike other tourism sectors that correlate with domestic consumption, casino performance is heavily influenced by inbound traffic, making Chinese visitor growth the primary determinant for the rest of the year.
“Inbound metrics such as arrivals, foreign spending, and earnings from foreigner-only casinos are now numerically confirming the market’s perception of an inbound boom,” said Ji In-hae, an analyst at Shinhan.
South Korea’s casino industry is exclusively accessible to foreign visitors, as domestic gambling is strictly regulated by law. Kangwon Land remains the sole casino permitted to serve local residents.
In September of last year, the government introduced a temporary visa-free initiative targeting Chinese group tourists, aiming to revitalize inbound tourism and support regional economies.
The brokerage anticipates widespread earnings improvements across the sector, though recovery rates will vary based on location, customer demographics, and the presence of integrated resorts featuring hotels and entertainment facilities.
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