Lotte Tour Development has released its financial results for October 2024, showcasing a considerable improvement in gaming revenue when compared to the same month last year.
The operator of the Jeju Dream Tower casino resort on South Korea’s Jeju Island reported hotel revenue of KRW7.6 billion ($5.5 million) in October, reflecting a 13.0 percent increase from KRW6.8 billion ($4.9 million) in September. However, hotel revenue showed a decline of 12.9 percent compared to KRW8.8 billion ($6.4 million) recorded in October 2023.
On the casino side, Lotte Tour reported casino revenue of KRW24.2 billion ($17.6 million), marking a significant 14.9 percent decrease from KRW28.4 billion ($20.6 million) in September 2024. Year-on-year, casino revenue increased by 22.2 percent from KRW19.7 billion ($14.3 million) in October 2023.
Breaking down the casino revenue further, table games generated KRW23.1 billion ($16.8 million), down 14.8 percent from KRW27.1 billion ($19.6 million) in the previous month, while also showing a 25.0 percent increase compared to KRW18.5 billion ($13.4 million) in the same month last year.
Machine revenue fell to KRW1.1 billion ($800,000), a 16.5 percent decrease from KRW1.2 billion ($870,000) in September, and down 17.3 percent from KRW1.2 billion ($870,000) year-on-year.
For the year-to-date, Lotte Tour reported accumulated hotel revenue of KRW73.5 billion ($53.3 million), a 5.8 percent decrease from KRW78.1 billion ($56.7 million) in the same period last year.
In contrast, casino revenue for the January to October period surged to KRW244.9 billion ($177.5 million), representing a remarkable 103.9 percent increase from KRW120.1 billion ($87.0 million) during the same timeframe in 2023.
