Casino revenue at the Jeju Dream Tower resort in South Korea declined by some 2 percent monthly in September, totaling KRW14.3 billion ($10.6 million), according to the resort’s operator, Lotte Tour Development Co.
According to financial data published on the website of the operator, Lotte Tour Development Co Ltd. noted that, despite the declines in casino revenue, the visitor tally recorded during the month of September dropped by 2 percent: from 28,718 to 28,165.
Gaming machine revenue dropped 40 percent yearly monthly, to KRW1.1 billion ($879.7 million), while table games brought in KRW13.1 billion ($9.7 million), down some 17.3 percent compared to the previous month.
During the first nine months of the year, cumulative casino revenue totalled KRW100.3 billion ($74.4 million), already a number 130 percent higher than the amounts reported for the whole year of 2022.
Jeju Dream Tower operates a foreigner-only casino that opened its doors in June of 2021. The island of Jeju has become one of the most popular travel destinations in South Korea due to its visa-free policy for Chinese visitors.
The South Korean government has also just announced a slew of financial benefits, including visa fee waivers and tax refunds, for Chinese tourists visiting Korea starting in September, in a bid to lure back both visitors and punters.
At the same time, Korean authorities are working to expedite the approval of extra flights to serve the mainland China market.