2Q casino GGR at Jeju Dream Tower down 17pct q-o-q

Aug 15, 2022 Newsdesk Latest News, Rest of Asia, Top of the deck  

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The promoter of the Jeju Dream Tower casino resort (pictured), in the capital of the South Korean holiday island of Jeju, said on Friday that second-quarter gaming sales at the venue were KRW12.2 billion (US$9.3 million) after deducting rebates and commissions; down marginally on the first quarter’s KRW12.3 billion.

Lotte Tour Development Co Ltd added that the casino’s gross gaming revenue (GGR) in the second quarter was circa KRW15.3 billion, down approximately 17.3 percent from the KRW18.5 billion achieved in the prior quarter.

April GGR was KRW3.6 billion; May generated KRW4.8 billion; and June produced circa KRW6.9 billion.

Mass-table revenue in the second quarter was nearly KRW7.9 billion, an increase of 92.7 percent from the KRW4.1 billion revenue in the prior quarter.

The tally of visits to the casino venue for the period was 19,704, up 37.7 percent from the 14,305 in the prior quarter.

VIP-segment revenue for the period was KRW7.3 billion for the quarter, down 49.3 percent from the KRW14.4 billion revenue in the previous quarter.

VIP rolling chip volume for the period was around KRW121.1 billion, down 62.0 percent from the KRW318.8 billion in the previous quarter.

Group wide, Lotte Tour Development had a second-quarter operating loss of KRW28.9 billion, and negative earnings before interest, taxation, depreciation, and amortisation (EBITDA) of KRW8.9 billion, against the first quarter’s operating loss of under KRW27.2 billion and negative EBITDA of KRW7.3 billion, respectively.

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