Gold Mountain Casino faces likely three-month licence suspension in Jeju
Jeju authority cites alleged staff cheating that cost around KRW100 million in June
Key Takeaways
- Jeju Special Self-Governing Province is likely to impose a three-month suspension on Gold Mountain Casino for alleged cheating on 7–8 June.
- The alleged cheating cost three Chinese customers approximately KRW100 million (US$75,598 currently); initial reports cited KRW80 million.
- A three-month suspension is the prescribed first administrative penalty for “using altered gaming equipment”; mitigation can reduce it.
- The incident was referred to prosecutors in Jeju on 11 September; the province’s penalty will be independent of the criminal probe.
- Gold Mountain Casino was sold to Geumsan Co Ltd in 2024 and had operated as Megaluck Casino under New Silkroad Culturaltainment Ltd.
Gold Mountain Casino, a foreigner-only venue on South Korea’s Jeju island, is likely to face a three-month suspension of gaming operations within days unless it mounts a successful mitigation plea, the Jeju Special Self-Governing Province Government told GGRAsia. The province's action follows allegations that some casino staff cheated three Chinese customers of approximately KRW100 million (US$75,598 currently) during blackjack games on 7 and 8 June.
Prescribed administrative penalty and process
The province said a three-month operational suspension is the prescribed first administrative penalty for the regulatory infringement described as “using altered gaming equipment.” The same source noted the sanction can be reduced if the operator presents valid mitigating grounds. A second regulatory violation can lead to licence revocation. The province explicitly does not have authority to extend a first suspension beyond three months.
“We are still reviewing the casino operator’s representations. Under existing regulations, we may reduce the three-month suspension if mitigating grounds are identified,” a Jeju official told GGRAsia.
The authority said initial reports previously referenced a loss figure of KRW80 million, but its information cites the current estimate of KRW100 million.
Separate criminal referral
The Jeju government confirmed the matter was referred to prosecutors in Jeju on 11 September, and that those prosecutors are conducting a separate investigation. The province emphasised its administrative penalty will be “independent” of the criminal investigation’s outcome or any subsequent court ruling.
Ownership and regulatory context
Gold Mountain Casino operated under the name Megaluck Casino when Hong Kong-listed New Silkroad Culturaltainment Ltd ran the venue. The operation was sold to local firm Geumsan Co Ltd in 2024, according to industry data published in May by South Korea’s Ministry of Culture, Sports and Tourism, which retains overall control of the country’s casino sector. Since 2009, Jeju has exercised certain regulatory control over the island’s foreigner-only casino industry.
Frequently Asked Questions
What penalty is Jeju likely to impose on Gold Mountain Casino?
Jeju Special Self-Governing Province is likely to impose a three-month suspension of gaming operations, which is the prescribed first administrative penalty for the infringement described as “using altered gaming equipment.” The province said it may reduce the three-month suspension if the operator presents mitigating grounds.
How much money were customers allegedly cheated out of and when did it happen?
Three Chinese customers were allegedly cheated of approximately KRW100 million during blackjack games on 7 and 8 June. Initial reports had mentioned KRW80 million, but the province's information cites KRW100 million and gives the current US dollar equivalent as US$75,598.
Has the case been referred to criminal authorities?
Yes. The Jeju government referred the matter to prosecutors in Jeju on 11 September, and those prosecutors are conducting a separate investigation. The province stated its administrative penalty will be independent of the criminal investigation’s outcome or any subsequent court ruling.
Who owns Gold Mountain Casino and what is its regulatory context?
Gold Mountain Casino was sold to Geumsan Co Ltd in 2024 and had previously operated as Megaluck Casino under Hong Kong-listed New Silkroad Culturaltainment Ltd. Since 2009, Jeju has exercised certain regulatory control over foreigner-only casinos, while the Ministry of Culture, Sports and Tourism has overall control of South Korea’s casino sector.
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About the author
Eleanor Whitfield
Regulatory Affairs Correspondent
Eleanor Whitfield tracks gambling legislation, licensing decisions, and regulator enforcement across key markets — from the UKGC, MGA, and Germany's GGL to Spain's DGOJ and the state-by-state map in the Americas. The reporting answers three questions precisely: what changed, where, and who it affects, with jurisdictions, effective dates, and penalty figures named exactly as published. Compliance officers and operators read Eleanor Whitfield to know which rulebook moved before their next board meeting.
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