Inside Asian Gaming

IAG JUN 2021年6月 亞博匯 22 COVER STORY I cannot think of a more vulnerable Asian gaming market than Korea,” says Andrew Klebanow, Principal of Klebanow Consulting, as he surveys the damage left across the Asia-Pacific region by the COVID-19 pandemic. “Its 16 foreigner-only casinos are wholly dependent on gamers from other nearby countries for all of their gaming revenues. This leaves the sector vulnerable to any number of threats including geo-political and natural. “Korea's casino industry will eventually rebound once the pandemic abates but it will always be vulnerable to similar crippling events. Every country in East Asia that prohibits its citizens from entering casinos will never enjoy the economic impacts that integrated casino resorts can have on a nation.” One of the more established casino destinations in Asia, South Korea’s casino industry dates back to 1967 with the opening of the Incheon Olympos Hotel Casino, the first casino under the country’s dominant foreigner-only casino operator Paradise Group. Exactly 40 years later, Paradise would launch South Korea’s first integrated resort – Paradise City – just a short stroll from the original Incheon Olympos Hotel site in what looms as a preview to the industry’s hopes for a brighter future ahead. “