A local government official in South Korea has confirmed to GGRAsia that the country’s Ministry of Culture, Sports and Tourism has proposed the government increases the maximum Tourism Promotion and Development Fund contribution payable by Korean-mainland foreigner-only casinos from 10 percent of annual gaming revenue, to 15 percent.
The proposal had been reported on Tuesday by online business-news outlet Edaily.
An official from Jeju Special Self-Governing Province confirmed the reported information, in response to a GGRAsia telephone enquiry on Wednesday. That official said the ministry is still discussing the proposal.
Jeju’s eight foreigner-only gaming licensees would be excluded from the proposed tourism-fund payment increase because – as Jeju is a semi-autonomous region – they are governed under a separate legal framework, that official said. But the person also noted: “If the [proposed] amendment is enacted, we could consider applying similar rules to the island.”
The news coincided with Wednesday share-price declines in a number of South Korea-listed foreigner-only casino businesses.
Paradise Co Ltd, which runs casinos in Seoul, Incheon, Busan, and Jeju, lost 14.1 percent between Korea Exchange market close on Tuesday and market close on Wednesday. Grand Korea Leisure Co Ltd (GKL), which runs two Seoul venues and one in Busan, fell 11.0 percent in the same period. Lotte Tour Development Co Ltd, which runs the Jeju Dream Tower casino in Jeju, fell 15.2 percent in that time frame.
In other potential regulatory developments, Edaily had reported on June 29 that the Ministry of Culture, Sports and Tourism – the government department overseeing the casino sector – was also exploring the possibility of switching the Korean-mainland casinos to a periodic licensing regime, rather than the current de facto ‘permanent’ one.
The Jeju official GGRAsia spoke to, said that was something Jeju had already suggested to the ministry for Jeju, as a way of promoting competition and high standards among licensees.
The person additionally confirmed the ministry was mulling a system whereby government permission would be needed for any controlling-shareholder changes.
The Jeju official noted: “Since any such proposed amendments would be part of the parent legislation governing casino operations, Jeju would in likelihood need to embrace them.”
Edaily had reported that the controlling-shareholder proposal had been prompted by a number of events. One was where effective control of Inspire Entertainment Resort, at Incheon, passed from Mohegan Tribal Gaming Authority to private investment firm Bain Capital in February 2025.
Another was where control of the former Jeju Sun Hotel & Casino transferred from Philippines-listed Bloomberry Resorts Corp, to an entity called Blue One Ltd, with the property reopening in March as Blue One Casino. The government also had broader concerns over regulatory oversight within the industry, reported Edaily.
A review by GGRAsia of the National Assembly’s online records indicates none of the proposed measures have so far been introduced as formal parliamentary business.
