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Jeju Dream Tower, Lotte Tour’s Korean integrated resort, has reported a rise in casino revenue for January 2025. The casino reported KRW29.4 billion ($20.15 million) in revenue for the month, marking a 23.2 percent rise year-on-year.
The casino’s revenue for the month was up 24.8 percent higher than last month. As per the statement, January’s casino revenue included KRW28.1 billion in table revenue and KRW1.28 billion in machine revenue. The table revenue was up 27.2 percent month-on-month whereas the machine revenue was down 11.5 percent.
In addition, table drop of KRW121.1 billion was marginally up 0.2 percent year-on-year but down 8.8 percent sequentially. For January, hotel revenue grew by 7.5 percent year-on-year to reach KRW5.53 billion.
The strong beginning of 2025 follows Lotte Tour’s recent report of rise in casino revenue for 2024. Lotte Tour reported a 93.3 percent increase in casino revenue for 2024, reaching KRW 276.5 billion, as it continues to recover from the impact of COVID-19. In contrast, hotel revenue for the year dropped by 7.8 percent, totaling KRW 84.5 billion.
In 2024, South Korea’s two casinos recorded a rise in revenue. Paradise Co, a leading South Korean operator of foreigner-only casinos, achieved a 10.2 percent increase in annual casino revenue for 2024. Meanwhile, the Jeju Dream Tower also reported improved performance.
The venue leveraged its unique position as a tourist hub to attract foreign visitors, contributing to the overall growth of South Korea’s gaming industry. Jeju Dream Tower is the tallest building in Jeju at 38 floors or 169 meters high. It features a retail mall, 14 restaurants and bars, an outdoor pool deck, top floor skydeck with lounge, two spas and a casino. The tower boasts about 150 tables and 300 slot machines.
Relocated from smaller Lotte Hotel Jeju in June 2021, the tower used to cover 5,000 square meters, offer 141 gaming tables, 190 slot machines and 71 electronic table games.
According to the company, Jeju Dream Tower earned KRW276.5 billion in casino revenue in 2024, a 93.3 percent year-on-year increase, continuing its post-COVID recovery. However, the company added that its hotel revenue fell by 7.8 percent.
The combined growth in revenue across Paradise Co’s properties and the Jeju Dream Tower reflects a recovering tourism sector and increased spending by international visitors. South Korea’s gaming market has focused on capturing this demand, aligning its strategies to enhance offerings and cater to high-spending players.