Tag Archives: South Korea

South Korea’s Kangwon Land casino rocked by hiring scandal
September 12, 2017
South Korea’s leading casino Kangwon Land is reeling from a corruption scandal in which 95% of staff turned out to have been hired due to their political connections. On Tuesday, the state-owned Kangwon Land issued an official statement saying 493 of the 518 people hired between July 2011 and February...
Philippines bust more South Korean online gambling ops

Philippine authorities are chasing down fugitive members of a South Korean-led illegal online gambling ring, while preparing charges against nine other members who weren’t nimble enough to evade arrest. On Friday, members of the Regional Intelligence Division (RID) raided a rented house in Cebu City where a suspected illegal online...
Landing International mulls moving its foreigner-only casino
August 30, 2017
Hong Kong-listed property developer Landing International Development Ltd. wants to move its foreigners-only casino to Jeju Shinhwa World. In a regulatory filing, Landing told the Hong Kong bourse of its plan to transfer its gaming operations at the Hyatt Regency Jeju Hotel to Jeju Shinhwa World, a 344-unit serviced resort...
Tensions in Asia propel bitcoin past $4,000 to new milestone
August 14, 2017
Bitcoin’s swift rise isn’t over. On Monday, the digital currency was hovering above the $4,000 mark—the new all-time high it crossed over the weekend, when its trading price reached a high of $4,489.99, according to OKCoin data. The cryptocurrency is currently trading at $4,044 level with a market capitalization of...
Kangwon Land Q2 net profit down 10%
August 10, 2017
South Korean casino operator Kangwon Land Inc extended its losing streak in the second quarter with net profit tumbling 10.7 percent from the prior-year period. Kangwon Land, the only South Korean casino that’s legally allowed to cater to local residents, posted a KRW110.4 billion (US$96.9 million) net profit, the second...
Paradise Co extends losses in Q2
August 8, 2017
South Korea’s largest casino operator Paradise Co. Ltd suffered yet another multi-million loss in the second quarter of the year despite the opening of its newest casino resort Paradise City. In a disclosure to the Korean Composite Stock Price Index, the casino operator incurred an operating loss of KRW27.3 billion...