Casino sales at the Jeju Dream Tower resort in South Korea reached almost KRW22.18 billion (US$16.37 million) in March, down 7.4 percent sequentially, said its promoter Lotte Tour Development Co Ltd in a Tuesday filing to the Korea Exchange.
The March tally rose by 262.7 percent year-on-year.
First-quarter 2024 casino sales at Lotte Tour improved by 327.9 percent, to nearly KRW70.00 billion, with table-game sales at its foreigner-only casino rising 358.7 percent year-on-year, to KRW66.41 billion.
Jeju Dream Tower is located in 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 March amounted to just below KRW20.89 billion, a decline of 8.3 percent sequentially, and up 285.9 percent from a year earlier.
Last month’s machine-game sales tally was nearly KRW1.29 billion, an increase of 10.3 percent from February. The result represented an 83.7-percent increase from the prior-year period.
Hotel sales in March declined by 10.2 percent sequentially, to KRW5.50 billion. Judged year-on-year, such sales were down 4.1 percent.
Hotel sales for the first quarter stood at KRW16.77 billion, a decline of 5.2 percent compared with the first three months of 2023.
Lotte Tour’s March casino table drop, the amount paid by customers to purchase chips for table games, was up 15.6 percent from February, at KRW121.94 billion. First-quarter casino tabe drop stood at KRW348.21 billion, up by 68.1 percent in year-on-year terms.
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 rising 248.7 percent year-on-year, to KRW152.30 billion.
