Lotte Tour Development’s Jeju Dream Tower recorded its second-highest monthly casino sales figure in July, reaching KRW51.59 billion ($36.1 million).
The result was up 18.8 percent year-on-year and 5.8 percent from June. It remained below the record KRW52.95 billion ($37 million) reported in September 2025.
Table-game sales increased by 17.7 percent year-on-year to KRW48.91 billion ($34.2 million), while machine-game sales rose 44.1 percent to KRW2.69 billion ($1.9 million), according to a Korea Exchange filing.
The increase came despite table drop falling 9.9 percent year-on-year and 3.5 percent month-on-month to KRW216.76 billion ($151.6 million).
Casino sales for the first seven months of 2026 reached KRW317.34 billion ($222 million), up 33.3 percent from the same period last year. Hotel sales rose 11.3 percent year-on-year to KRW8.78 billion ($6.1 million) in July.
Bondholder exercises early repayment option
In a separate filing, Lotte Tour said NV8 Holdings had exercised a put option requiring the company to repay half of a KRW70 billion ($49 million) privately placed convertible bond issue before maturity.
NV8 is an investment vehicle established by South Korean private equity manager Dominus Investment, according to local financial media. The bonds were issued in November 2021, with their maturity later extended from November 2025 to November 2026. The revised terms allowed the investor to request early repayment on August 29th, 2026.
NV8 exercised the option over KRW35 billion ($24.5 million) in principal, half the issue. Lotte Tour will pay KRW43.54 billion ($30.4 million), covering the principal and accrued return under the bond agreement, using its own funds. Payment is scheduled for August 31st, as the August 29th settlement date falls on a holiday.
The put option followed a sharp fall in Lotte Tour’s share price since mid-July, when reports emerged that the government plans to raise the tourism promotion development fund levy on foreigner-only casinos from 10 percent to 15 percent. The stock closed at KRW11,620 on July 31st, below the bond’s conversion price of KRW12,762, the Korea Economic Daily reported.
Lotte Tour plans to cancel the acquired bonds, permanently removing their conversion rights. The tranche could otherwise have been converted into about 2.74 million shares, equivalent to 3.33 percent of the company’s outstanding stock.
The cancellation removes that potential dilution and reduces the company’s debt, but requires a KRW43.54 billion cash outflow. A further KRW35 billion ($24.5 million) in principal will remain outstanding.
