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South Korea’s foreign-only casinos see momentum on inbound tourism recovery
Shinhan Securities links the rest of 2026 outlook to Chinese visitor growth, citing inbound indicators including foreign spending and foreigner-only casino earnings.
South Korea’s foreigner-only casino sector is building renewed momentum in 2026 as inbound tourism recovers and expectations rise for more Chinese group travel in the second half, according to an analysis by Shinhan Securities reported by SCMP Economy.
The brokerage said casino performance is closely tied to inbound flows rather than domestic consumption, making the pace of Chinese visitor growth the key variable for the remainder of the year. It also pointed to inbound indicators such as arrivals and foreign spending as now confirming a broader inbound tourism boom through metrics like foreigner-only casino earnings.
South Korea’s casino industry is open only to foreign visitors under current law, with Kangwon Land the only option available to locals. SCMP Economy noted that last September the country launched a temporary visa-free program for Chinese group tourists to revive inbound travel and support regional economies.
Shinhan expects earnings to improve across the sector, but the size of the rebound is expected to vary by location and customer mix, and by whether operators run integrated resorts that combine casinos with hotels and entertainment facilities.