Jeju Dream Tower Feb sales maintain upward trend

Mar 04, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Casino sales at the Jeju Dream Tower resort in South Korea reached KRW23.94 billion (US$17.99 million) in February, up 0.3 percent sequentially, said its promoter Lotte Tour Development Co Ltd in a Monday filing to the Korea Exchange. The February tally rose by 538.3 percent year-on-year.

February was the second straight month of growth in casino sales 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 February amounted to just above KRW22.77 billion, flat sequentially, and up 594.5 percent from a year earlier.

Last month’s machine-game sales tally was nearly KRW1.17 billion, an increase of 3.2 percent from January. The result represented a 147.4-percent increase from the prior-year period.

Hotel sales in February rose by 19.2 percent sequentially, to just under KRW6.13 billion. Judged year-on-year, such sales were up 4.7 percent.

Lotte Tour’s February casino table drop, the amount paid by customers to purchase chips for table games, was down 12.7 percent from January, at KRW105.45 billion.

Lotte Tour reported in January a net loss of KRW203.55 billion for full-year 2023, a 9.4 percent year-on-year improvement.

Full-year 2023 sales at Lotte Tour improved by 70.7 percent, to nearly KRW313.55 billion, with casino sales, at its foreigner-only casino, rising 248.7 percent year-on-year, to KRW152.30 billion.

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