In August 2024, Jeju Dream Tower, Lotte Tour’s premier integrated resort, reported a remarkable increase in casino revenues. The resort saw an 84.4% year-on-year rise and a 44.5% sequential increase, with casino revenues reaching KRW33.0 billion (approximately USD 24.6 million). The non-gaming segment also showed positive growth, improving by 7.4% month-on-month to KRW9.93 billion (around USD 7.4 million).
Comprehensive Growth in Casino Revenue
The dramatic increase in casino revenue at Jeju Dream Tower reflects broad-based gains across various segments. Specifically, revenue from table games soared by 42.6% compared to July, reaching KRW29.8 billion (about USD 22.3 million). Meanwhile, revenue from machine games experienced an even more significant rise of 63.9%, totaling KRW3.23 billion (USD 2.4 million). This broad improvement underscores the resort’s expanding appeal in the gaming sector.
The overall table drop, a key indicator of casino activity, also saw significant growth. It rose by 28.3% from July and 20.2% compared to August 2023, reaching KRW159.6 billion (USD 119 million). This robust performance highlights a strong increase in both the volume and value of gaming activities at the resort.
Year-To-Date Revenue Performance
For the first eight months of 2024, Jeju Dream Tower has accumulated casino revenues of KRW192.4 billion (approximately USD 144 million). This impressive figure represents a substantial 124% increase compared to the same period last year. In contrast, the hotel revenue has experienced a slight decline of 3.8%, amounting to KRW59.0 billion (about USD 44.0 million). Despite the dip in hotel revenue, the overall performance of the casino segment has been a major driver of growth for the resort.
Resort Features and Facilities
Jeju Dream Tower stands as a landmark on Jeju Island, being the tallest building at 38 floors and 169 meters high. The resort offers a diverse range of amenities, including:
Retail and Dining:
A large retail mall and 14 restaurants and bars provide a wide array of shopping and dining options.
Leisure and Wellness:
The outdoor pool deck, top-floor skydeck with lounge, and two spas offer relaxation and recreational opportunities.
Casino:
The casino, a major attraction, features an extensive range of gaming options, including 150 tables, 300 slot machines, and 71 electronic table games.
Expansion and Relocation
The casino, previously located at the smaller Lotte Hotel Jeju, was relocated to Jeju Dream Tower in June 2021. The new casino spans over 5,000 square meters and includes 141 gaming tables, 190 slot machines, and 71 electronic table games. This expansion reflects the resort’s commitment to enhancing its gaming offerings and providing a comprehensive entertainment experience.
The notable surge in casino revenues at Jeju Dream Tower underscores the resort’s successful growth strategy and expanding market presence. The significant increase in gaming revenues, coupled with a broad array of facilities and amenities, positions Jeju Dream Tower as a leading destination for both gaming and leisure on Jeju Island. With continued investment and innovation, the resort is well-positioned for ongoing success and growth in the months ahead.