The Gambling Control Commission will announce a detailed plan on the matter
South Korean casino shares drop as country plans to curb gambling
(South Korea).- Kangwon Land, the operator of South Korean only casino open to local citizens, dropped by its daily trading limit in Seoul trading ahead of an announcement of the government’;s plan to control gambling.
2008-11-23
Reading time 19 seg
Kangwon Land dropped 15 %, or us$ 1,418 to us$ 8,131, as of 10:26 a.m. local time, the most since September 2. The benchmark Kospi stock index declined 1.5 %.
The government plans to limit total annual revenue of the gambling industry, including horse racing, lottery tickets and casinos, to 0.58 % of gross domestic product, the Financial News reported, citing an official at South Korean National Gaming Control Commission it didn’t identify.
The Commission will announce a detailed plan on the matter.
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