Olympos Casino

Olympos Casino

In 1962 the South Korean government legalized gambling for foreigners only in a casino.

In 1967 Olympos Casino was the first casino to open in South Korea. It was located in Incheon (formerly spelled Inchon) in the outskirts of Seoul, the capital and was owned by Mr. Hwa Yul Yu.

Although this is the oldest casino in South Korea I haven't found many chips. So where are the Olympos Casino chips?

Olympos Casino was sold to The Paradise Group on April 3, 2000. The name was changed to Golden Gate Casino when it moved to the Hyatt Regency Incheon Hotel on August 1, 2005.

It is unknown what the below chip was used for. It doesn't have a denomination.

The chip manufacturer is Burt Co/Atlantic Standard. The mold is DieCar. This chip is not coin or medal aligned.

This chip manufacturer is unknown and contains the Paradise Group logo. It was issued after The Paradise Group purchased Olympos Casino in April 2000.

Olympos Casino Token

It is unknown what year it was made. It refers to being the first licensed casino in Korea and the obverse contains the Olympos logo.

Olympos Casino Postcard

Here is a picture of the hotel/casino, unknown date.

Olympos Casino Dice

Unknown what it was used for. Currently there are no crap tables in South Korea casinos.

Olympos Casino - Moscow, Russia

Olympos Casino in Moscow, Russia opened in April 1996 as the first gaming project in Russia. It closed abruptly on October 17, 1996. It did not close for lack of business. The exact reason for it's closing was lost in the translation.

Fellow chip collector Vitaly Safronov informed me he worked for the Olympos Casino in Moscow, Russia during the entire time it was open in 1996. It was owned by a South Korean businessman named Mr. Yu. Mr Yu also owned the Olympos Casino in South Korea. Vitaly wrote about working at the Olympos Casino at this link: Working at Olympos Casino I used google translator because it is written in Russian.

Vitaly's fine website can be found here: casino-chips

I have completed a trade with Vitaly and he provided me with two chips that were used at the Olympos Casino in Moscow. The first is a brass core PMSC type chip that is pink in color. There is no denomination marking the value but Vitaly informed me it was used as a $500 chip. It has the same Olympos logo as the gray chip and the token. It is the same on both sides.

The second chip is a burnt orange color with three dark blue inserts and no denomination. Vitaly explained this chip was used in lieu of an admission fee. It is a DieCar mold and was manufactured by the Burt Co./Atlantic Standard. Vitaly stated he did not see the gray chip being used at the Olympos Casino in Moscow. I have placed the two chips side-by-side for comparison.

Olympos Casino - Almaty, Kazakhstan

Vitaly also mentioned there was another Olympos Casino in Alma-Ata, Kazakhstan that was also owned by Mr. Yu. (Alma-Ata was re-named Almaty in 1993, two years after the fall of the USSR.) Here's a picture of the outside of the casino around 1993.

Roman P. was kind enough to send me a picture of a chip he has from here. He found it many years ago and it's used as a key chain.

Thanks Roman.

Casino Olympos Alma-Ata chip picture courtesy of Roman P.