Lotte Tour’s Korean integrated resort, Jeju Dream Tower, reported 93.3% year-on-year increase in casino revenue in 2024 to KRW276.5 billion (US$188 million), continuing its post-COVID recovery. However, hotel revenue fell by 7.8% to KRW84.5 billion (US$57.4 million).
The 2024 result followed a strong finish to the year, with December casino revenues growing 64.4% year-on-year to KRW23.6 billion (US$16.0 million) and continuing a recent trend of significant revenue improvements compared to the same period in 2023. The December revenue figure was 9.5% lower than in November.
According to information filed with the Korea Exchange, December’s casino revenue included KRW22.2 billion (US$15.1 million) in table revenue, down 10.9% month-on-month, and KRW1.45 billion (US$984,000) in machine revenue, up 18.5%.
Table drop of KRW132.8 billion (US$90.1 million) was up 5.2% year-on-year but down 1.8% sequentially.
Hotel revenue in December fell by 22.3% year-on-year and 2.7% month-on-month to KRW5.42 billion (US$3.68 million).
Jeju Dream Tower is the tallest building in Jeju at 38 floors or 169 meters high and features a retail mall, 14 restaurants and bars, an outdoor pool deck, top floor skydeck with lounge, two spas and a casino boasting 150 tables and 300 slot machines.
The casino was relocated from its former home at the smaller Lotte Hotel Jeju in June 2021 and covers more than 5,000 square meters, offering 141 gaming tables, 190 slot machines and 71 electronic table games.
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