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Korea Casino Association opposes proposed 15% tourism levy on casino revenue

Regulation

South Korea’s Ministry of Culture, Sports and Tourism has proposed raising the maximum contribution by foreigner-only casinos to the Tourism Promotion and Development Fund from 10% to 15%. The Korea Casino Association said the increase could push operators still recovering from the pandemic towards bankruptcy; it also opposed proposed five-year licence renewals and prior approval for transfers or acquisitions of significant interests.

The proposed levy and licensing changes could increase costs and approval requirements for foreigner-only casino operators.

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