Casino net revenue at Lotte Tour Development Co Ltd, the promoter of the Jeju Dream Tower resort (pictured in a file photo) on South Korea’s Jeju island, fell 5.5 percent year-on-year in February, to just under KRW22.62 billion (US$15.5 million). Such revenue declined by 23.1 percent sequentially, the firm said in a Tuesday filing to the Korea Exchange.
Most of the casino revenue for February – KRW20.71 billion – was from table games, a figure that fell 9.1 percent from the prior-year period. The tally was down 26.4 percent from the preceding month.
Gaming machine revenue last month was nearly KRW1.91 billion, a year-on-year gain of 63.2 percent, and up 49.0 percent from January.
Lotte Tour’s hotel sales for February stood at just under KRW4.51 billion, down 26.5 percent from a year earlier, and a decline of 17.8 percent month-on-month.
Casino revenue for the first two months of the year was KRW52.04 billion, up 8.8 percent from the prior-year period.
Hotel revenue in the calendar-year to February 28 was KRW9.99 billion, down 11.3 percent year-on-year.
Lotte Tour posted a net loss of about KRW114.35 billion for full-year 2024, an improvement on the KRW202.33-billion loss in the previous year.
The firm reported sales – covering casino, hotel and travel businesses – of KRW471.47 billion for 2024, a 50.4-percent increase from 2023.
In mid-December, a spokesperson at Lotte Tour confirmed to GGRAsia that the firm had refinanced KRW839-billion worth of borrowings.
