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The decline in the profitability of gambling in South Korea was affected by the political crisis. In particular, the impeachment of President Pak Kun Hee sent the casino operator to the “2014 level”. Such indicators confirm that geopolitical events in the region affect even a casino aimed at local residents.
As a result, the casino’s revenue in South Korea decreased by 9.1% in Q1. In a report submitted to the Korea Stock Exchange, Kangwon Land’s management reported that revenue in the first quarter dropped to KRW 129.79 billion ($ 116.0 million) , сompared with KRW 142.81 billion ($ 127.85) for the same last year.
