Your Daily Asia Gaming eBrief: South Korea sees yearly uptick in 2022

Wednesday 4th of January 2023

Good morning. A fresh New Year but a chance to reflect on the 2022 we've all been through. Luckily, South Korea's foreigner-only casinos saw a positive uptick during the year, with December revenues leading a climb up the ladder. Both Paradise and Grand Korea Leisure saw strong revenue increases, evidently driven by mass. And in Macau, VIP gaming undergoes its latest transition, as less VIP promoters are licensed and operators such as Macau Legend choose to step back from the segment entirely.

What you need to know

South Korean foreigner-only casinos saw a strong uptick in revenue for 2022, with both Paradise and Grand Korea Leisure seeing a drive in mass.
Macau VIP gaming undergoing a shift into a more passive role, as operators like Macau Legend choose to exit the market to focus on other aspects.

On the radar

South Korea mandating negative PCR test for HK/Macau arrivals.
PH senator pushing for increased measures for China visitors.
Genting HK's World Dream struggles to find a buyer.

AGB Intelligence

SOUTH KOREA

South Korea casinos see strong yearly showing in 2022

South Korea's foreigner-only casinos Paradise and Grand Korea Leisure saw strong results both in December and throughout the whole year, pushing expectations that the industry can recover again. This was strongly driven by mass demand and some pent-up expectation for gaming. However, moving into 2023 results could be challenged by the new testing regime for visitors from China, due to the surge in COVID cases.