S. Korea gambling tax revenue up 4 percent in 2015

South Korea’s tax revenue from the gambling industry rose 4 percent year-on-year in 2015, due largely to increased sales, according to official data quoted by Korea Herald.

Korea’s National Gambling Control Commission reported that gaming taxes reached KRW 2.4 trillion (US$2 billion) in 2015.

Tax revenue from casinos went up 12.1 percent, while that of horse racing marginally increased by 1.6 percent.

The commission said the increase in gambling tax revenue was a result of a growth in sales of 3.1 percent on-year to KRW 20.5 trillion.