Lotte Tour Development Co Ltd, the promoter of the Jeju Dream Tower casino resort (pictured) on Jeju Island, South Korea, reported a net loss of KRW203.55 billion (US$152.7 million) for full-year 2023, according to a Thursday filing to the Korea Exchange.
The result was a 9.4 percent year-on-year improvement, compared to a 2022 net loss of almost KRW224.71 billion.
Full-year 2023 sales at Lotte Tour improved by 70.7 percent, to nearly KRW313.55 billion.
In January the company had reported full-year 2023 casino sales, at its foreigner-only casino inside Jeju Dream Tower, had risen 248.7 percent year-on-year, to KRW152.30 billion.
In its latest filing to the bourse, Lotte Tour said its 2023 operating loss narrowed to just below KRW60.60 billion, a 49.0-percent improvement on 2022’s.
Nonetheless total liabilities for Lotte Tour rose 8.2 percent year-on-year in 2023, to nearly KRW1.70 trillion.
