The South Korean government has announced that the country’s gambling and lottery industry expanded for the ninth consecutive year in 2014, with total sales exceeding 19.7 trillion won ($17.6 billion/€16.6 billion).
Citing official data from the government, the Yonhap News Agency reported that gambling-related sales in the country grew by 1%, or 199.2 billion won, in 2014.
Sales of lottery tickets and sports betting exceeded 3.28 trillion won each in 2014, up 1.4% and 6.5% respectively on the previous year.
However, despite the industry having expanded in the past 12 months, the data also showed that the market grew at a slower rate than in previous years.
In 2011, sales growth in South Korea reached 5% year-on-year, 2012 figures showed a 6.5% increase, while last year the market expanded by 0.6%.
Government officials have stated that they expect the industry to surpass the 20 million won mark in the current year, due to an ongoing increase in demand for lotteries and casinos.
source : www.igamingbusiness.com
