Feb 09, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck  
Lotte Tour Development Co Ltd, the promoter of the Jeju Dream Tower casino resort (pictured) on Jeju Island, South Korea, reported a net loss of KRW203.55 billion (US$152.7 million) for full-year 2023, according to a Thursday filing to the Korea Exchange.
The result was a 9.4 percent year-on-year improvement, compared to a 2022 net loss of almost KRW224.71 billion.
Full-year 2023 sales at Lotte Tour improved by 70.7 percent, to nearly KRW313.55 billion.
In January the company had reported full-year 2023 casino sales, at its foreigner-only casino inside Jeju Dream Tower, had risen 248.7 percent year-on-year, to KRW152.30 billion.
In its latest filing to the bourse, Lotte Tour said its 2023 operating loss narrowed to just below KRW60.60 billion, a 49.0-percent improvement on 2022’s.
Nonetheless total liabilities for Lotte Tour rose 8.2 percent year-on-year in 2023, to nearly KRW1.70 trillion.
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Enrique Razon
Chairman and chief executive of Bloomberry