South Korean casinos gear up for competition

    Published in: Latest Intelligence Kangwon Land tackles pent-up local demand with expansionThe daily take at gaming tables in Macau may make Las Vegas stakes look like child’s play, but the Kangwon Land Casino in South Korea is where things get really serious.“The casino is packed full with gamblers like a busy street market,” said one visitor. “One cannot spend money there even if he wants to.” Revenue per table runs double that of Macau’s casinos, according to Praveen Choudhary, head of Asian gaming research at Morgan Stanley.The tables are overcrowded even though the casino site is on a remote mountain far from any major highway, airport or city. Its one key selling point is that it’s the only one of South Korea’s 17 casinos legally allowed to admit domestic gamblers.On June 1 it will finally be ready to handle more of them as the casino opens its first new tables...

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