Korea has become a hot spot for gambling with many players across the country. To support these individuals, the country has developed many powerful casinos. And, regulations have helped stimulate the development of new casino players. The industry may take a step backwards in the coming months with the country announcing its intention to raise the age for casino entry. That could put a damper on things for gamblers and the industry as a whole. Within this guide, you’re going to learn more about the South Korean casino industry and the age increase.
The Legislation
Casinos across Korea are coming to grips with new legislation that will attempt to raise the entry age for casinos. Previously, the age is 19. This means that any 19-year-old can enter a casino and gamble their money. The legislation was submitted to the South Korean National Assembly. This will attempt to raise the minimum age to 21. Take the measurements of were put forth in the middle of March 2019. The King Casino, 007 Casino, Coin Casino and others would be hurt severely if this bill became law. That could put a damper on things for gamblers and the industry as a whole as mentioned.
It would prevent millions of gamblers from visiting their local casinos and enjoying their favourite games. South Korea is home to 17 casinos. 16 casinos are foreigner-only venues while one only admits South Korean players. Kim Kwang-soo submitted the bill and it was sponsored by nine others.
Which Casinos Will Be Impacted?
South Korea is overflowing with amazing casinos including The Zohn Casino, The Nine Casino, First Casino, and others. Some operate a physical establishment while others have an online business. Many are worried that the industry is going to be crippled by the move, will these casinos be impacted by the new legislation? For the full year of 2017, Kangwon Land’s operator experienced a profit decrease of 32.1% and others haven’t done much better.
Simultaneously, the Korea Casino Association announced that it would have an opposing opinion for the National Assembly. This combination will likely prevent Korea from changing its entry age but only time will tell.
Notable Korean Casinos
If the bill is approved, there is a risk that casinos across the country are going to experience turmoil. Many are already hurting and this would compound the problem. With that being said, it is important to look at some of the most notable casinos in Korea. There are many great online casinos including Sands Casino and 007 Casinos. Many of these Korean casinos pay deposit bonuses at various events allowing players to enjoy the games longer with less money.
It should also be noted that these casinos offer a wealth of games including blackjack, roulette, slots, and baccarat.
Summary
Ultimately, the industry is facing a potential problem. If the entry age is raised, these casinos will experience numerous problems. They will likely attempt to prevent that from happening. If it does, they’ll be able to continue serving millions of 19-year-old Korean residents without problems.