South Korea Raises Casino Tax Rate to 15%, Foreign Betting Stocks Plummet Over 10% on July 20

South Korea's government is pushing to raise the casino development fund contribution rate from 10% to 15%, triggering sharp declines in foreign casino-related stocks on July 20. Securities analysts estimate that if the measure is applied across the board, annual operating profit for foreign casino operators could shrink by as much as 37% from current forecasts, prompting brokerages to slash target prices for casino-linked equities.
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