Jeju Dream Tower first positive monthly EBITDA in Dec
The promoter of Jeju Dream Tower casino resort in South Korea said on Thursday that December had generated the complex’s first positive monthly earnings before interest, taxation, depreciation and amortisation (EBITDA), since the casino opened in June
December property EBITDA at the venue (pictured) in the capital city of the holiday island of Jeju, was KRW1.48 billion (US$1.23 million) stated Lotte Tour Development Co Ltd, in a press release.
Gaming revenue for the month was KRW8.13 billion, the highest monthly tally since the property launched.
Jeju Dream Tower’s total December sales revenue for its three business segments – casino, hotel and shopping mall – was circa KRW20 billion. Hotel sales alone – via its Grand Hyatt Jeju-branded accommodation – amounted to KRW11.5 billion, a monthly record, the release said.
The resort’s gross operating profit for the month was nearly KRW730 million.
Lotte Tour Development opened a new phase of Grand Hyatt Jeju on November 29.
The hotel has a total of 1,552 rooms, all suites.
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