Lotte Tour Development’s growth outlook is strengthening on the back of rising foreign arrivals to Jeju and robust performance at its Jeju Dream Tower hotel and casino, according to SK Securities analyst Na Seung-du.
According to a report cited by local media outlet Chosen Biz, the analyst said the company is showing “clear earnings growth,” as the Jeju Dream Tower—opened during the COVID-19 pandemic—has now stabilized operations and entered a more sustained growth phase. The improved performance has helped ease earlier investor concerns, following the company’s return to annual net profit last year.
Recent operating data points to continued momentum. From January to March, foreign arrivals to Jeju increased 29.1 percent year over year. Over the same period, hotel sales at Jeju Dream Tower rose 27.9 percent, while casino sales climbed 40.3 percent.
As reported by AGB, Jeju Dream Tower’s foreigner-only casino, operated by Lotte Tour Development, recorded a 40.3 percent year-over-year increase in casino sales in the first quarter of 2026, reaching KRW118.63 billion ($78.9 million). The growth was driven by strong performance in table games and continued momentum in international visitation.
Casino drop, a measure of customer spending, also increased 36.7 percent year over year, suggesting that revenue growth is supported by higher player volumes rather than short-term fluctuations in hold rates.
The analyst said the data indicates the property has “fully settled” and is now benefiting from stronger demand fundamentals. He added that improved confidence in performance is enabling more aggressive marketing efforts.
The outlook is further supported by policy measures aimed at boosting tourism. Jeju authorities have introduced incentives to expand international air routes, including partial compensation for revenue shortfalls on new flights. The initiative is expected to attract more foreign carriers and improve direct connectivity to the island.
The analyst noted that increased travel demand from China, alongside steady inflows from Japan and Southeast Asia, is likely to drive further growth. He added that shifting travel preferences—favoring closer and perceived safer destinations—are contributing to rising interest in Jeju, supporting both visitor arrivals and casino volumes.
