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Asia News - Page 111

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Former Korean Casino President, Newspaper Owner Arrested

International News Brief: A former president of a South Korean casino and a former chairman of a newpaper were arrested for taking more than the permissible amount of U.S. dollars out of Korea for gambling in Las Vegas.

South Korean Media Exec Arrested in Currency Scandal

A South Korean ex-media tycoon was arrested on charges of violating Korea's currency laws when he illegally borrowed $4 million in 1996 for gambling from Laura Choi, a former Mirage Resorts Inc. manager.

007 to Promote World Cup

International News Brief: Roger Moore, best known for his movie roles as the international secret agent James Bond, will attend the World Cup's opening ceremony as Seoul's goodwill ambassador.

South Korea President's Son Probed in Lottery Scandal

International News Brief: Prosecutors will summon President Kim Dae-jung's youngest son, who has been accused of accepting a bribe to secure a lottery license for Tiger Pools Korea.

Korean Casino Investigated for Missing Revenue

International News Brief: An investigation into a scandal surrounding over $750,000 in missing revenue at South Korea’s Kangwon Land casino, appears to have had only limited impact on its gambling business, which continues to flourish.

Korean Organized Crime Busted for Illegal Gambling

International News Brief: The Seoul District Public Prosecutor's Office said it arrested 33 members of organized crime families for operating video game arcades with illegal gambling machines in Seoul.

Embezzlement Suspected at Korean Casino

International News Brief: Korean Chuncheon District Prosecutors conducted a seizure search on the casino Gangwon Land Friday.

North Korea's First Web Site a Gamble

International News Brief: North Korea’s first web site hosts a people’s lottery where people from around the world can win 100 percent of the pot.

Lotteries for Foreign Patrons Hit Korean Market

International News Brief: A new lottery series recently hit the market, and it is targeting foreigners visiting or residing in Korea as its sole consumer group.

Korea Offers Online Soccer Betting

South Korea's sole sports lottery operator, Sports ToTo, is giving Internet-savvy Koreans a way to bet on soccer online.

Intense Growth in Korea's Gambling Industry

International News Brief: Korea's recreation and gambling industry ballooned by 45 per cent last year, posting a revenue of $7 billion compared to the $4.8 billion it made in 2000.

The Koreans whet the appetites of online casino groups

Korean Gambling Industry Grows 45%

International News Brief: Despite the domestic economic slump, the gambling industry grew 45 percent last year, creating a market worth 9.2 trillion won (US$7 billion).

Gambling Fever Hits South Korea

News Brief: South Korea may be feeling the pinch of recession, but with hard times looming, the country's gambling industry is cashing in.

Kangwon Land Becomes Largest Gambling Firm in South Korea

News Brief: Kangwon Land, the country’s only casino operator, is likely to become the largest sales maker in South Korea's gambling industry, bypassing horse racing.

Casino for locals in Korea

Booming Korean Casino Selling Stock

News Brief: The owner of the only South Korean casino, Kangwon Land, in which South Koreans themselves can bet starts trading on the Kosdaq market. Investors expect a rally that will establish it as the index's third-biggest stock.

South Korea's Casinos Share Price Rise Sharply

News Brief: The stock price of KangwonLand has jumped to over 120,000 won ($94) in the over- the-counter market, posting a 223 percent increase rate since the beginning of this year.

Lottery Fever Heats Up in South Korea

News Brief: A South Korean lottery promotion is tempting citizens with the concept of how much satisfaction is derived merely by buying tickets and dreaming of the riches waiting to be won.

Korean Company Exporting Online Casino Game Software

News Brief: Hoonnet says many international companies from Japan and Southeast Asia are contacting the online gaming firm to establish local joint ventures or exports of its gaming software.

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