Strong revenue surge at Jeju Dream Tower Casino Resort leaves it mark

Posted: May 18, 2023 16:01 Posted by Matthew Calleja
Category: Asia, Casino, Land-Based,
Posted: May 18, 2023 16:01 Category: Asia, Casino, Land-Based, Posted by Matthew Calleja

Casino revenues at the Jeju Dream Tower casino resort, located on South Korea’s holiday island of Jeju, experienced a significant surge in April.

Stellar m-o-m and y-o-y revenue surges

According to Lotte Tour Development Co Ltd, the operator of the resort, casino sales reached just under KRW9.96 billion (US$7.4 million), marking a 62.8 percent increase compared to the previous month. On a year-on-year basis, the sales showed an impressive growth of 368.6 percent.

Jeju Dream Tower, renowned for its foreigner-only casino, reported these figures after deducting rebates and commissions. In April, table-game sales amounted to slightly over KRW9.08 billion, reflecting a substantial rise of 68.2 percent compared to March and an impressive surge of 413.8 percent compared to the same period last year.

Machine-game sales at the casino reached KRW873 million, showing a sequential growth of 22.2 percent and a remarkable year-on-year increase of 144.4 percent.

In addition to casino revenues, the hotel segment also demonstrated positive performance in April. Hotel sales amounted to KRW6.75 billion, indicating a month-on-month growth of 17.7 percent. However, there was a decline of 29.1 percent compared to April 2022.

The company did not provide specific commentary on the reasons behind the variations in revenues.

Looking at the overall performance for the first four months of this year, casino sales at Jeju Dream Tower reached a total of KRW26.31 billion, showing a substantial increase of 82.6 percent compared to the same period last year.

Table-game sales during the four-month period reached nearly KRW23.54 billion, reflecting a year-on-year growth of 75.7 percent. Machine-game sales experienced a remarkable surge of 173.7 percent, totaling just above KRW2.77 billion.

Hotel sales from January to April amounted to KRW24.43 billion, indicating a decline of 33.9 percent compared to the previous year.

In terms of the full-year results for 2022, Lotte Tour Development reported net casino sales of nearly KRW43.68 billion, marking a significant increase of 107.7 percent compared to the approximately KRW21.03 billion recorded in 2021.

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