16 OctEnforcement & compliance
South Korean authorities move to dismantle alleged KRW3.1 trillion betting network
The arrests and repatriations could affect efforts to dismantle the alleged network across several markets.
South Korea
Regulation, licensing and business developments in South Korea. Open in the feed
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Market dossier
Licensing, commercial relationships and regulatory developments.
Regulators
Compliance developments
- South Korean authorities move to dismantle alleged KRW3.1 trillion betting network
- UAE arrests advance South Korean probe into alleged KRW3.1tn betting network
- South Korean police investigate KRW28.7bn casino laundering allegations
- Authorities refer two Jeju casino dealers to prosecutors over alleged KRW100m fraud
- South Korean police record 1,777 youth online gambling reports
Upcoming dates
- 27 Oct 2026 National Assembly parliamentary audit ends · entry
Relationships
Reported licences, deals, appointments and other connections. Follow the entry links for context.
Operators active
- GKL 2026-09-03 · entry
- Grand Korea Leisure 2026-09-03 · entry
- Kangwon Land 2026-10-16 · entry
- Kangwon Land 2026-09-03 · entry
- Kangwon Land 2026-08-26 · entry
- Lotte Tour Development 2026-09-01 · entry
- Jeju Dream Tower 2026-09-01 · entry
- Lotte Tour Development 2026-09-01 · entry
- Paradise Co 2026-09-13 · entry
- Paradise Co 2026-09-02 · entry
- Paradise Co 2026-09-02 · entry
- Paradise Co 2026-10-03 · entry
Timeline
Newest first, grouped by month.
October 2026
16 OctEnforcement & compliance
UAE arrests advance South Korean probe into alleged KRW3.1tn betting network
The arrests return two suspects to South Korea while the suspected ringleader’s extradition remains unresolved.
16 OctRegulation
Jin Sun-mee urges review of Kangwon Land entry-ban procedures in South Korea
The review could affect Kangwon Land’s procedures for allowing previously barred customers to return to its casino.
16 OctEnforcement & compliance
South Korean police investigate KRW28.7bn casino laundering allegations
The investigation concerns alleged use of South Korean casinos to launder investment-fraud proceeds.
14 OctRegulation
Korea Casino Association awaits government details on casino levy of up to 15%
South Korean casinos await implementation details for a higher revenue levy reaching up to 15% to support a tourism fund.
13 OctRegulation
IESF proposes FIA-inspired global esports governance framework
The proposal would give national federations roles in licensing, national teams, world competitions and shared standards.
3 OctDeals & M&A
Paradise reports September casino revenue of KRW86.7bn in South Korea
The figures give investors September revenue and quarterly performance data for Paradise Co’s casino operations.
3 OctDeals & M&A
Grand Korea Leisure reports KRW37.3bn September casino revenue
Grand Korea Leisure’s September casino revenue rose 7.2% year on year, showing investors growth at the foreigner-only operator.
September 2026
15 SepRegulation
Gyeonggi education office signs youth gambling prevention pact with regulator
The pact connects youth gambling prevention by Gyeonggi’s education office and a regulator with an existing school phone-use strategy.
14 SepEnforcement & compliance
Authorities refer two Jeju casino dealers to prosecutors over alleged KRW100m fraud
For casino operators, the allegations concern dealers using marked blackjack cards to defraud tourists on Jeju Island.
13 SepDeals & M&A
NH Investment forecasts tourism gains for South Korean casinos amid uncertain VIP demand
Investors face differing demand prospects as NH Investment & Securities expects tourism to support mass-market casinos more than VIP gaming.
10 SepRegulation
South Korea ministry considers delaying casino reform proposal amid operator consultations
Casino operators face proposed five-year licences and higher tourism fund contributions above an undetermined revenue threshold, with submission potentially delayed.
9 SepRegulation
South Korea faces possible casino reform delay amid operator consultations
Casino operators remain in consultation over industry concerns as South Korea’s proposed regulatory changes face possible delays.
8 SepEnforcement & compliance
South Korean police record 1,777 youth online gambling reports
South Korea’s reporting programme led to specialist treatment referrals and requests to block or delete 464 illegal gambling website addresses.
7 SepDeals & M&A
South Korean casino accelerates expansion to attract international visitors
The expansion targets overseas visitors at South Korea’s sole casino permitted to admit domestic customers.
3 SepDeals & M&A
Grand Korea Leisure reports August casino sales decline to KRW31.11bn
Investors face declining August casino sales despite annual growth in casino drop and sales across the first eight months.
3 SepDeals & M&A
Grand Korea Leisure reports August casino revenue decline of 11.3%
Grand Korea Leisure’s August casino revenue fell 11.3% year-on-year, giving investors a direct measure of declining revenue.
3 SepDeals & M&A
GKL records August casino sales decline to US$23m in South Korea
The decline leaves GKL with lower casino sales against both comparison periods.
3 SepPeople moves
Kangwon Land CEO plans closer links with South Korean tourism attractions
Kangwon Land’s new chief executive prioritises connecting the resort with nearby tourism attractions.
2 SepDeals & M&A
Paradise reports record August casino revenue of KRW104.91bn in South Korea
Higher table hold accompanied Paradise’s revenue growth while VIP visiting days remained broadly stable, contextualising the increase for investors.
2 SepDeals & M&A
Paradise Co reports August casino sales rise of 32% in South Korea
The monthly revenue record and growth across all four casinos give investors evidence of higher sales across Paradise Co’s venues.
1 SepDeals & M&A
Lotte Tour reports Jeju Dream Tower casino sales of KRW46.22bn in August
Investors face mixed performance: annual sales growth accompanied lower monthly sales and falling table hold despite higher table drop.
1 SepDeals & M&A
Lotte Tour Development records August casino sales of nearly KRW46.22bn in South Korea
The sales increase gives investors a measure of annual casino revenue growth at Lotte Tour Development.
1 SepEnforcement & compliance
South Korean ministry probes alleged overstatement of GKL casino visits for 2025
The inquiry puts Grand Korea Leisure’s reported casino attendance for 2025 under government scrutiny.
August 2026
26 AugPeople moves
Kangwon Land shareholders approve Kim Do-gyun as chief executive in South Korea
Shareholder approval puts Kim Do-gyun in charge of Kangwon Land as president and chief executive.
25 AugEnforcement & compliance
Korean police refer suspects to prosecutors over 63bn won gambling website
The case extends enforcement to customers placing large wagers, with 105 users referred to prosecutors alongside suspected operators.
24 AugEnforcement & compliance
Ulsan police refer 12 suspects to prosecutors over alleged KRW60bn gambling network
The investigation highlights alleged YouTube audience manipulation to attract bettors and efforts to pursue suspects believed to be abroad.
19 AugEnforcement & compliance
South Korea’s media regulator votes to block Polymarket access
The decision would restrict Polymarket’s access to users in South Korea.
19 AugEnforcement & compliance
South Korean regulators ban Polymarket over gambling law breaches
South Korea’s Polymarket ban could end the domestic prediction market sector, industry sources warned.
19 AugEnforcement & compliance
South Korean police identify 71 children aged 10 to 13 in gambling offences
The figures expose a gap between children's involvement in illegal gambling and the availability of dedicated youth treatment services.
19 AugEnforcement & compliance
Korea Media and Communications Commission votes to block Polymarket access in South Korea
The decision targets access to Polymarket in South Korea.
17 AugEnforcement & compliance
South Korean police arrest 58 over alleged KRW78bn gambling operation impersonating Kangwon Land
For operators, the case involves alleged gambling websites impersonating Kangwon Land that attracted around 40,000 Korean users.
14 AugEnforcement & compliance
South Korean police arrest suspect in international gambling investigation
The investigation targets an online gambling operation using illegal sexual material to recruit players.
14 AugEnforcement & compliance
South Korean police receive 806 reports in youth gambling campaign
The campaign encourages young gamblers to disclose their activity to police.
11 AugDeals & M&A
GKL increases quarterly net income to KRW18.02bn
The results show higher earnings for GKL’s South Korean casino business.
10 AugRegulation
South Korean casinos oppose renewable permits and higher tourism contributions
The proposals would change casino permit terms and increase contributions to the tourism fund.
7 AugDeals & M&A
SK Securities expects limited Lotte Tour impact from casino reforms
The brokerage’s assessment tempers expected effects of the proposed rules on Lotte Tour.
4 AugRegulation
South Korean tourism groups seek withdrawal of casino reform proposals
The organisations oppose reforms they say would weaken casino investment and employment.
4 AugDeals & M&A
Kangwon Land increases quarterly net profit 59.8%
The profit increase reflects non-operating gains rather than solely casino trading.
4 AugDeals & M&A
Paradise casino sales reach KRW77.89bn in July
The results show higher casino sales for Paradise’s South Korean operations.
4 AugDeals & M&A
GKL increases July casino sales 6.9%
The sales increase adds revenue for GKL’s foreigner-only casinos.
4 AugRegulation
South Korean tourism groups oppose proposed casino reforms
The objections signal industry resistance to the proposed casino rules.
4 AugRegulation
South Korean tourism and casino groups oppose licence and levy proposals
The organisations oppose proposed recurring licence obligations and tourism fund contribution limits.
3 AugRegulation
North Jeolla governor seeks casino resort admitting domestic players
The proposal seeks a domestic-player casino permission that has divided local stakeholders.
3 AugDeals & M&A
Lotte Tour reports KRW51.59bn in July casino sales
The July result increases revenue at Lotte Tour’s Jeju casino.
July 2026
29 JulRegulation
South Korean adviser says casino reforms remain informal
Operators face discussion of possible reforms without a formally submitted proposal.
28 JulEnforcement & compliance
South Korean police target alleged gambling operation exploiting hearing-impaired people
The investigation concerns alleged use of vulnerable people to facilitate gambling transactions.
28 JulRegulation
Tourism adviser says South Korean casino reforms remain untabled
The reform ideas remain outside a formally tabled legislative process.
28 JulEnforcement & compliance
South Korean police investigate alleged exploitation in gambling payment network
The investigation links alleged exploitation of deaf people to gambling payment accounts.
27 JulPeople moves
Korean police appoint Faker to youth gambling prevention role
The appointment brings a prominent esports figure into youth gambling prevention.
24 JulRegulation
South Korean police name Faker anti-gambling ambassador
The campaign uses the esports player’s public profile to spread online gambling warnings.
24 JulRegulation
Korea Casino Association seeks changes to levy and renewal proposals
The association is seeking revisions to proposed casino costs and renewal obligations.
23 JulRegulation
Korea Casino Association opposes proposed levy and licence reforms
The association is contesting proposed changes to casino financial obligations and licensing.
22 JulDeals & M&A
Inspire plans new entertainment space for WPT Seoul festival
The opening adds dedicated poker-event capacity to Inspire’s resort.
22 JulEnforcement & compliance
Jeju police charge two dealers over alleged card-marking fraud
The charges concern alleged manipulation of casino games and losses to patrons.
21 JulRegulation
KoFIU proposes broader casino customer recording requirements
The proposed changes would extend customer identification and transaction recording to lower-value casino play.
20 JulRegulation
South Korea proposes higher casino contributions to tourism fund
The proposed fee increase would raise operators’ contributions to the tourism fund.
17 JulRegulation
South Korean data show teenage cyber gambling offender increase
The figures show increased recorded teenage cyber gambling offending.
16 JulEnforcement & compliance
South Korea receives suspect in alleged $7.5bn gambling network
The extradition enables South Korean proceedings over the alleged gambling network.
7 JulEnforcement & compliance
KCSC awaits Polymarket response before deciding on action
The regulator has deferred action while Polymarket responds to the allegations.
Recent developments
Enforcement & compliance
- South Korean authorities move to dismantle alleged KRW3.1 trillion betting network
The arrests and repatriations could affect efforts to dismantle the alleged network across several markets.
- UAE arrests advance South Korean probe into alleged KRW3.1tn betting network
The arrests return two suspects to South Korea while the suspected ringleader’s extradition remains unresolved.
- South Korean police investigate KRW28.7bn casino laundering allegations
The investigation concerns alleged use of South Korean casinos to launder investment-fraud proceeds.
Deals
- Paradise reports September casino revenue of KRW86.7bn in South Korea
The figures give investors September revenue and quarterly performance data for Paradise Co’s casino operations.
- Grand Korea Leisure reports KRW37.3bn September casino revenue
Grand Korea Leisure’s September casino revenue rose 7.2% year on year, showing investors growth at the foreigner-only operator.
- NH Investment forecasts tourism gains for South Korean casinos amid uncertain VIP demand
Investors face differing demand prospects as NH Investment & Securities expects tourism to support mass-market casinos more than VIP gaming.
Regulatory calendar
Deadlines, consultations, tenders and rule changes stated in our sources. Global calendar
- ConsultationNational Assembly parliamentary audit ends · entry
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