South Korea Officials Approves Ordinance To Allow Casinos On Ships

Casinos on Ships
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  • PG News July 30, 2015
  • 2 Minutes Read

In a boost for the gambling industry in South Korea, the current ministry has given the go-ahead for casinos aboard cruise ships, but only for foreign visitors.

According to the Ministry of Fisheries, the ordinance was approved by the Cabinet and should come into effect by Aug 4.

South Korea’s government is expecting a huge positive effect of this ordinance, hoping that it might result in at least five local gambling operators contributing KRW1 trillion to the country and generating 8,000 jobs by 2020.

The move is reminiscent to the developments in Goa and the South Korean govt believes it will help in promoting tourism and helping locals battle foreign operators.

Ministry Official Han Dong-Soo told The Korea Herald that numerous vessel operators had already evinced interest and the first casino-fitted vessel should roll out by early 2016.

The ordinance has several conditions, which include intending operators have investment-worthy status from credit rating agencies. Casino size in vessels of 100,000 tons or larger be less than 2,600 square meters in size and for ships below 100,000 tons should be low 1,300 square meters.

The casinos must also have a Tourism Ministry accredited internal computing system and will have to sport a foreign currency exchange booth on board.

The casinos however, will not allow natives to play, even though many cries have risen for this.

At present, Kangwonland Resort Casino in South Korea’s Gangwon Province is the only gambling property that allows access to residents of the country.

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