Government curbs stifle South Korean lottery industry growth

    Published in: Latest IntelligenceGaming regulators in South Korea, backed by a powerful anti-gambling lobby and the media, have declared that the domestic lottery market is overheating – although even a cursory glance at the figures reveals little evidence of the claim The headline numbers show that lottery sales, which hit an eight-year high last year, continued the momentum in the first half of 2013, with the official sales target for 2013 set at 3.29 trillion won ($3 billion), a 3.2 percent annual increase. But the latest statistics released by the Korea Lottery Commission, the regulatory authority under the Ministry of Strategy and Finance, reveal sales in the first half of this year rose by a modest 0.45 percent, or 7.5 billion won from 1.6 trillion won in the previous year. Far from overheating the market is actually being artificially constrained, according to industry executives. It not only puts a severe strain on...

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