Lotte Tour 2024 casino net revenue up 93pct y-o-y

Jan 03, 2025 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Full-year 2024 casino net revenue at Lotte Tour Development Co Ltd rose 93.3 percent year-on-year, to KRW294.65 billion (US$200.7 million). The firm’s hotel revenue for 2024 stood at KRW84.52 billion, down 7.8 percent year-on-year.

Lotte Tour promotes the Jeju Dream Tower resort (pictured in a file photo) on South Korea’s Jeju island.

For full-year 2024, Lotte Tour’s table drop – the amount paid by customers to buy chips for table games – was nearly KRW1.52 trillion, up 19.2 percent from a year ago.

In December specifically, casino net revenue declined 9.5 percent month-on-month, to nearly KRW23.6 billion. Measured year-on-year, such revenue rose by 64.6 percent.

That was according to the firm’s Monday filing lodged with the Korea Exchange.

For the final month of 2024, net revenue generated from casino table games amounted to KRW22.15 billion, down by 10.9 percent from November. Judged year-on-year, this revenue segment grew 66.3 percent.

Gaming machine revenue for December reached nearly KRW1.45 billion, up 18.5 percent sequentially and 41.9 percent year-on-year.

Lotte Tour’s December casino table drop was KRW132.78 billion, down 1.8 percent sequentially, but up 5.2 percent year-on-year.

The firm did not offer explanation on its latest provisional operating results.

A separate document lodged with Lotte Tour’s official website showed its Jeju casino saw 36,490 visitors in December, a tally about 1.9 percent lower when compared to November, but 28.8 percent higher than the same month last year.

The hold rate for the casino’s table games in December was 16.7 percent, versus 18.4 percent in the previous month and 10.6 percent a year ago, the document showed.

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