Kangwon Land, the operator of South Korean only casino open to local citizens, dropped by its daily trading limit in Seoul trading ahead of an announcement of the government’s plan to control gambling. Kangwon Land dropped 15 %, or USD 1,418 to USD 8,131, as of 10:26 a.m. local time, the most since September 2. The benchmark Kospi stock index declined 1.5 %. The government plans to limit total annual revenue of the gambling industry, including horse racing, lottery tickets and casinos, to 0.58 % of gross domestic product...

(Bloomberg) -- Kangwon Land Inc., the operator of South Korea's only casino open to local citizens, fell the most in almost seven years in Seoul trading after the government announced plans to double the casino tax next year. Kangwon Land dropped by the daily limit of 15 percent to 15,950 won, the biggest drop since Oct. 24, 2001. Rival Paradise Co. declined 15 percent to 2,085 won, the lowest since November 2002.

(Bloomberg) - Kangwon Land Inc., the operator of South Korea's only casino open to local citizens, dropped the most since its listing seven years ago after the government said it plans to control gambling. Kangwon Land dropped 11.8 percent to close at 20,900 won, the most since the company's shares started trading in October 2001. The benchmark Kospi stock index declined 0.05 percent.