In the first month of 2024, casino revenues at the Jeju Dream Tower resort on Jeju Island surged to RW23.85 billion ($17.81 million), recording a 267.3 percent year-on-year increase.
The figures reported for the South Korean resort by its operator Lotte Tour Development in a filing to the Korea Exchange on Friday also showed a 66.3 percent sequential uptick. The property, located on the semi-autonomous island off the south coast, previously experienced a decline in casino sales in December.
Table-game sales for January reached KRW22.76 billion ($16.99 million), marking a 70.8 percent increase from December and a 293.2 percent surge from the same period the previous year. Machine-game sales in January totaled nearly KRW1.10 billion ($822,000), reflecting a 7.5 percent month-on-month increase and a 55.2 percent rise from the corresponding month in the prior year.
Despite a dip in hotel sales during the period, the resort achieved a sequential gain in casino revenue for January. Hotel sales were down 26.2 percent to just under KRW5.15 billion ($3.85 million), and year-on-year sales decreased by 15.6 percent.
For the entire year, Jeju Dream Tower reported a 248.7 percent year-on-year increase in casino sales, reaching KRW152.30 billion ($113.73 million). In November, Lotte Tour disclosed a net profit of at least KRW300 million ($224,000) for the quarter ending September 30, marking the first quarterly profit for the group since the opening of Jeju Dream Tower in December of 2020.
