South Korea is home to a large number of world-class gambling venues. These properties help to bring the government a large amount of tax money every year. They aren’t completely immune to thieves, though. We’re now beginning to hear more about the recent South Korean casino heist.
This is one of the largest casino robberies in recent memory. It’s led to a major police investigation. Today, we’ll explain some of the details of this recent heist.
Let’s get into it!
South Korea’s Gambling Laws, Explained
As many know, South Korea has some of the most unusual gambling laws on the planet. Here, lottery gambling and horse racing betting is perfectly legal for locals. Many have pushed to allow online horse race betting recently. Interestingly, residents here are completely banned from playing inside casinos.
What’s even more unusual is the fact that South Korea is home to several major casino-resorts. Nearly all of them are only available to visit for tourists. Locals caught gambling inside these tourist gambling venues are subject to an incredible three-year prison sentence.
The laws don’t stop there. South Koreans are also completely prohibited from gambling at any casinos outside the country. This is obviously difficult to enforce. Those caught playing in any foreign casinos, however, are subject to the same punishments.
Casino gambling isn’t completely unavailable to locals here, though. Just one of the 23 casinos operating in this state accepts local players. As you might expect, this venue is very popular with South Koreans. It’s still fairly difficult for most people here to get to.
These laws have been under intense scrutiny lately. Many believe that it’s time for more casinos in South Korea to become available to locals. Making this decision, gambling proponents argue, will help to significantly increase revenue in the country.
There is intense security located inside every casino in South Korea. These venues still see the occasional robbery from time to time. We’re beginning to hear more information about a recent heist that took place in one of the country’s casinos.
Police Ramp Up Investigation of Recent South Korean Casino Heist
Casinos are common venues for major heists to take place in blockbuster movies. It’s easy to see why. These venues are filled with cash and are often located in some of the most popular tourist locations around the world.
This began when Landing International Development Ltd., the company that owns this casino, noticed $13 million was lost from the resort’s coffer. The company claims that a female employee at the venue managed to steal the money. It’s unclear exactly how this heist took place.
The woman being investigated was a Malaysian national, who disappeared towards the end of December. Police are trying to understand how she managed to steal the 617 pounds worth of cash from the casino. The time in which this money was stolen is not yet known, making it difficult for police to utilize surveillance footage.
It’s fascinating to hear about this recent South Korean casino heist. We haven’t seen something like this take place for many years. Hopefully, the police manage to find those involved and hold them accountable.
Asia is home to several major casino hubs. Unfortunately, most of them are struggling immensely right now. Is 2021 the year that things turn around for these casino destinations?
Here’s What is in Store for Asia’s Major Casino Hubs in 2021
2020 was the most difficult year for the world’s land-based casino industry in history. For months, nearly all casinos around the world were completely shut down. The major casino destinations in the US saw large revenue declines throughout the year.
Due to travel restrictions between Mainland China and Macau, this territory saw extremely low tourism rates in 2020. Even as the year progressed, these tourism rates never really increased. China recently warned against travel here once again, making this situation even worse.
Countries like the Philippines and South Korea have also seen their casino revenue drop considerably this year. It doesn’t help that we just saw a major South Korean casino heist take place. We’ll continue offering updates on casino industries in these countries over the past few years.
Are you surprised to hear about the recent robbery at the South Korean casino? Let us know in the comments section below!
A longtime sports and gambling enthusiast, Kevin looks to present up-to-date and reliable information for readers. If he’s not writing, he’s probably watching MMA or playing blackjack. ...
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