written and last updated by
Sam Smith at
04 Nov 2024
Journalist, Editorial Department
Lotte Tour Development has released its financial results for October 2024, highlighting a significant increase in revenue from its gaming operations compared to the same month last year.
The operator of the Jeju Dream Tower casino resort on South Korea's Jeju Island reported hotel revenues of 7.6 billion South Korean won (approximately $537.5 million) for October. This figure represents a 13% increase from 6.8 billion won ($480.92 million) in September of the same year. However, hotel revenues saw a decline of 12.9% compared to 8.8 billion won ($622.32 million) recorded in October 2023.
In its report, Lotte Tour noted that casino revenues for October 2024 reached 24.2 billion won ($1.71 billion), marking a 22.2% increase from 19.7 billion won ($1.39 billion) in October 2023.
Table games accounted for the majority of the casino's income, generating 23.1 billion won ($1.63 billion), a 25% increase year-on-year. Slot machines contributed an additional 1.1 billion won ($77.79 million) to the company's revenue.
Representatives from Lotte Tour Development stated that casino revenues for the period from January to October 2024 rose to 244.9 billion won ($17.32 billion), a remarkable 103.9% increase compared to 2023. In contrast, hotel revenues decreased by 5.8% to 73.5 billion won ($5.19 billion) compared to the same period last year.
Meanwhile, construction of the Inspire Entertainment Resort in South Korea is nearing completion.
