Jeju may seek more tax revenue from gambling, passes casino bill

The South Korean island of Jeju, an increasingly popular gambling destination for mainland Chinese, plans to study ways to boost revenue from the gambling industry to benefit the local community, according to media reports.

The self-governing province has launched a special study to expand tax revenue, the Korea Bizwire reported.

The study aims to devise methods to increase taxes by fully investigating the sales revenue of the gambling industry in the province, it said. The study results will be released in July.

However  in a note Thursday, Union Gaming said Jeju had passed its casino bill and although details remain “very thin,” it believes the GGR tax is likely to remain at a very competitive level of around 14 percent.

 In Jeju, there are eight foreigner-only casinos.