South Korea has a problem with youth gambling. Unfortunately, the matter seems to only get worse as some minors have begun stealing to fuel their habits.
Gambling-related crime is nothing new and, unfortunately, is a prevalent problem. Throw in some minors into the mix and you get a recipe for disaster. Recent reports show that South Korean teenagers would sometimes bully their peers and steal from them in order to gamble.
The Korean Herald reported that in a recent case in Sejong City, a group of middle school students bullied a classmate for gambling money. According to the report, they would threaten the other teen into giving them the money. The money they got from each extortion ranged from KRW2,000 to 20,000 ($1.52 – $15.2). The total sum they took is still unknown.
The bullied student’s parents told investigators that the bullies forced their boy into giving his bank account, which they used to play online. The teenagers would use the account to sign up for various gambling sites and benefit from the welcome promotions.
The Parents Will Seek Legal Help The constant bullying prompted the bullied teen to seek the help of a psychologist. In the meantime, his parents have hired a lawyer and intend to take the matter to court. As a result, the bullies face charges of robbery and repeated assault.
The Sejong City Office of Education hopes that matters will not escalate further. The body will try to talk the involved families into reaching a peaceful solution. If no agreement is reached, the school’s violence committee will be responsible for handing punishment to the wrongdoers. In addition to the charges, the students might get expelled from their school.
Asian Casino Revenues Skyrocketed in 2023 In more positive news, South Korea’s foreigner-only casinos continue to grow in 2023. For example, Paradise Co, one of the biggest local operators, reported an impressive 130% year-on-year revenue increase to $32.5 million in March.
This is in line with the favorable trend that has seen Paradise Co’s profits skyrocket in Q1, 2023. For reference, the first three months of the year saw the operator’s profits soar 152% year-on-year, reaching $103 million.
Asia as a whole has been enjoying a positive rise in revenue, with Macau’s results rebounding after the devastating effects of the COVID-19 pandemic and China’s Zero-COVID policy. In March, for example, Macau’s concessionaires saw their collective revenues increase by 250% year-on-year, surpassing the March 2023 results by a large margin.