North Korea plans new foreigners-only casino, report says

Jenny Ortiz July 29, 2024

North Korea’s tallest structure, the Ryugyong Hotel, might soon host a casino as part of efforts to attract foreign investment according to a report by Radio Free Asia (RFA). Situated in Pyongyang, this 105-story skyscraper has remained incomplete since construction began in 1987. Despite its towering presence, the hotel has yet to open, with only its external structure completed in 2011. The interior remains unfinished, and the building is primarily known for its LED facade that displays government propaganda.

Efforts to attract foreign investment

According to the RFA report, North Korean authorities have proposed granting a foreign company the rights to operate a casino in the Ryugyong Hotel, provided they complete the interior construction. This initiative is a strategic move to stimulate tourism and draw international investors to North Korea. The decision comes after North Korea’s leader, Kim Jong Un, directed the government to take practical steps to enhance tourism.

Comparison with existing casinos

North Korea currently operates two casinos: one at the Yanggakdo Hotel in Pyongyang and another at the Bipa Hotel in the Rason Special Economic Zone. The success of the Yanggakdo Hotel’s casino, which caters exclusively to foreigners, has inspired the government to consider a similar model for the Ryugyong Hotel. This approach aims to replicate the profitability and foreign currency influx at the Yanggakdo Hotel’s casino.

Potential economic impact

The introduction of a casino at the Ryugyong Hotel is expected to boost tourism in Pyongyang. The project includes not just the casino but also accommodations, restaurants, a swimming pool, and a billiards room. Officials believe these amenities will make the hotel a major attraction, further revitalising the city’s tourism sector. The North Korean government is actively seeking overseas investment to realise this vision, highlighting the potential economic benefits for local and national economies.

International outreach for investment

North Korean trade representatives plan to promote this investment opportunity at an upcoming Chinese government-sponsored product exhibition in Dandong. This event, involving China, Russia, and Mongolia, aims to attract international interest and secure the necessary funding to complete the Ryugyong Hotel’s interior. By leveraging such international platforms, North Korea hopes to gather the financial resources needed to turn the Ryugyong Hotel into a thriving tourism hub.

Gambling in North Korea

The world’s most isolated country, North Korea, only allows gambling to foreigners, and the legal age for it is 18 years old. Gambling can only be done in select and designated places. The gambling industry is also highly regulated, and casinos need a licence to operate.

However, obtaining official information about gambling laws and regulations in the country is challenging due to the government’s secretive nature.

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