Lotte Tour Aug casino revenue up 45pct m-o-m, visitor record

Sep 02, 2024 Newsdesk Latest News, Rest of Asia, Top of the deck  

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Lotte Tour Development Co Ltd, the promoter of the Jeju Dream Tower resort on South Korea’s Jeju island, reported casino net revenue of KRW33.01 billion (US$24.7 million) in August, up 44.5 percent on July’s circa KRW22.85 billion.

Judged year-on-year, August’s net revenue at the complex’s foreigner-only gaming operation was up by 84.4 percent. That is according to a Monday filing to the Korea Exchange. No commentary was given on the reason for the improvement.

Jeju Dream Tower’s casino recorded 37,494 visitors in August – beating by 9.4 percent last month’s post-opening monthly-visitor record of 34,275. Measured year-on-year, the casino-visitor tally rose 30.6 percent.

August table game net revenue was KRW29.78 billion, up 42.6 percent sequentially, and an increase of 87.3 percent year-on-year.

Last month’s machine game net revenue totalled just under KRW3.23 billion, an increase of 63.9 percent on July, and a growth of 61.4 percent year-on-year.

Revenue in the gaming operation reached KRW192.41 billion in the eight months to August 31, 123.7-percent higher than a year ago.

Casino table drop – the amount paid by customers to purchase chips for table games – was almost KRW159.58 billion in August, up 28.3 percent month-on-month, and 20.2-percent higher year-on-year.

Such casino drop for the first eight months of 2024 was KRW985.34 billion, an improvement of 25.6 percent year-on-year.

Lotte Tour Development’s August hotel sales reached nearly KRW9.93 billion, up 7.4 percent sequentially, but down 5.8 percent from the same month in 2023.

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