Rice Cooker Roulette: South Korean Casinos Target China's 'Low Rollers'

<h1>Rice Cooker Roulette: South Korean Casinos Target China's 'Low Rollers'</h1> <img src="https://image.cnbcfm.com/api/v1/image/100912073-casino.jpg?v=1529462767&w=1600&h=900" alt="Rice cooker roulette? South Korea casinos court Chinese" width="875" height="492" /> A Seoul casino operator is luring Chinese tourists by offering free rice cookers and Apple iPads as prizes. Amid record visitor numbers, South Korean casinos are betting on more Chinese tourists to build trade, while competing with rival Asian hubs to attract big-money gamblers known as "whales."For more juicy details, check out the <a href="https://casino-gambling-network.com/">source web page</a>. At places like Paradise Walkerhill in Seoul, Paradise South Korea's largest casino company, is targeting people like Chen Jie Yi, a 27-year-old from Beijing who recently went on tour with friends. While moneyed gamblers are welcome, he says Korean casinos are not relying solely on working with junket operators on margin-cutting promotions to attract VIPs. It's much smaller than Macau," said Cheng, who checked out the Walker Hill casino. ''The service is pretty good. I'm more excited about shopping." The number of Chinese tourists with money to spend visiting South Korea is expected to keep growing after surging nearly 50% last year to a record 6 million. While hot Korean products like cosmetics are the main attraction, shopping is the main attraction, and casinos are developing services for tour groups like duty-free shopping and dinner shows, seeking a bigger slice of the $10 billion that Chinese tourists spent in <a href="http://top10gambling.net">top10gambling.net</a> The number of Chinese tourists who played baccarat and other games at five casinos in South Korea in the fourth quarter of last year jumped 51%, but gaming revenue rose only 3.7%, according to Paradise. State-owned Grand Korea Leisure Co (GKL) is boosting capacity this year along with Paradise to take advantage of record numbers of Chinese tourists; GKL's casinos in southern Seoul and Paradise are expanding their floor space this year by 13% and 15%, respectively. The company said. Korean casinos are targeting tourist shoppers and high rollers, in contrast to other Asian gaming centers that are more aggressive in their efforts to attract "very important" (VVIP) gamblers and others at the high end of the mass market. These big spenders helped make Macau the world's largest casino magnet, but Beijing's crackdown on extravagant spending has led many of them to pull out of the former Portuguese colony's casinos. According to Morgan Stanley, casino VIP revenue per <a href="https://news.worldcasinodirectory.com/chinese-shoppers-targeted-by-south-korea-as-they-increase-low-roller-numbers-6994">Chinese visitor</a> to South Korea last year was only $164, the lowest of the six Asian countries. This compares to $1,646 in the Philippines and $1,716 in Singapore. In South Korea, Paradise's monthly gaming review has regressed several months over the past year. However, Macau's casino revenues have shrunk for 11 straight months. <img src="https://www.fccj.or.jp/sites/default/files/styles/w800/public/inline-images/ri_15%288%29.png?itok=tF8Mpvhb" alt="A lesson in gambling from South Korea | FCCJ" /> Kyobo Securities analyst Yuseok Jeong said, "The decline in customer numbers is not as pronounced in Korean casinos because Chinese tourists to Macau are VVIP-level customers, while Chinese casino customers in Korea are VIP-level and bet slightly higher than mass customers." As the next step in its efforts to compete with its neighbors, South Korea is encouraging the development of large-scale "integrated resort" casinos. Deutsche Bank analyst Karen Tan said gross gaming revenues from South Korean casinos are likely to grow 16% in 2015. She said, "Chinese gamblers will go farther to try new destinations, so weakness in larger markets means there are opportunities in mid-sized markets like South Korea and the Philippines. The Communist-led island government in the Eastern Mediterranean wants to ban online poker, slot machines, and other <a href="https://www.researchgate.net/publication/365442914_Asian_Roulette_Criminogenic_casinos_and_illicit_trade_in_environmental_commodities_in_South_East_Asia">casino games</a>. It has no intention of banning online sports betting. Although there are no casinos in Cyprus, gamblers are exploiting loopholes in the law, and online gambling via providers based in other countries is virtually unregulated in Cyprus. Police and government officials have described the practice as a "plague" that promotes vice. The draft law calls for the establishment of a licensing authority that would issue permits and regulate permitted forms of gambling, and one legal official told Reuters, "This law would bring order to the whole area of gambling." <img src="https://www.ggrasia.com/wp-content/uploads/2016/06/casino-chips-cards-table-games-gaming.jpg" alt="GGRAsia – Claimed US$3.5mln scam on Chinese, Daegu Casino: reports" /> The government has sent the bill to the European Commission, but feedback from the EU executive and member states will not come until March 2011, rather than mid-December as expected, the finance ministry said. While the government is opposed to casinos of any kind, residents of the divided island are free to cross over to the breakaway Turkish Cypriot state of Northern Cyprus and play in the dozens of casinos there. 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