Casino sales at the Jeju Dream Tower resort in South Korea reached KRW23.85 billion (US$18.0 million) in January, said its promoter Lotte Tour Development Co Ltd in a Friday filing to the Korea Exchange. The January tally rose by 267.3 percent year-on-year and was up 66.3 percent sequentially.
In December, casino sales had fallen sequentially at the property on Jeju, a semi-autonomous island that is host to a number of foreigner-only casino properties.
Lotte Tour noted that its casino sales are calculated net of commissions paid to agents, and therefore differ slightly from sales data for the industry as compiled by South Korea’s Casino Association.
Table-game sales in January amounted to KRW22.76 billion, up 70.8 percent on December. The figure was up 293.2 percent from a year earlier.
January’s machine-game sales tally was nearly KRW1.10 billion, an increase of 7.5 percent month-on-month. The result represented a 55.2-percent increase from the prior-year period.
January’s sequential casino revenue gain at Jeju Dream Tower was despite a decline in hotel sales for the period.
Hotel sales were down 26.2 percent sequentially in January, to just under KRW5.15 billion. Judged year-on-year, such sales were down 15.6 percent.
Full-year casino sales at Jeju Dream Tower rose 248.7 percent year-on-year, to KRW152.30 billion.
In November, Lotte Tour reported a net profit of at least KRW300 million for the three months to September 30, the first quarterly group profit since Jeju Dream Tower’s opening in December 2020.
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”Our businesses delivered double-digit growth across the board throughout the year, enabled by strategic investments and strong execution”
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