Lotte Tour’s Jeju Dream Tower integrated resort has set a remarkable milestone in January 2024, with its casino revenues surging to a new all-time high of KRW23.9 billion (US$18.0 million). This impressive figure represents a 66.3% month-on-month increase and a staggering 267% growth compared to January 2023. Despite a sequential decline in hotel revenues by 26.2%, the casino’s robust performance demonstrates its resilience and attractiveness in the market.
Casino Revenue Breakdown:
In January, Jeju Dream Tower’s table game revenues reached KRW22.8 billion (US$17.2 million), marking a substantial 70.8% month-on-month surge. The machine revenues also contributed to the success, totaling KRW1.10 billion (US$829,000), reflecting a 7.5% increase. The table drop, although down 4.3% month-on-month, exhibited a remarkable 79.7% surge compared to January 2023, amounting to KRW120.8 billion (US$91.1 million).
Yearly Performance:
Lotte Tour’s casino revenues for the entire year of 2023 amounted to KRW152.3 billion (US$116 million), registering an outstanding 249% growth. This remarkable performance is attributed to Korea’s successful COVID-19 recovery efforts and the return of international tourists.
Property Overview:
Situated as the tallest building in Jeju, the Jeju Dream Tower stands at an impressive 38 floors, reaching a height of 169 meters. Beyond its renowned casino, the integrated resort boasts a diverse range of amenities, including a retail mall, 14 restaurants and bars, an outdoor pool deck, a top-floor skydeck with a lounge, and two spas.
Casino Relocation and Expansion:
The casino at Jeju Dream Tower was strategically relocated from its previous home at the smaller Lotte Hotel Jeju in June 2021. The new casino space spans over 5,000 square meters and features an extensive gaming area with 141 gaming tables, 190 slot machines, and 71 electronic table games.
Jeju Dream Tower’s outstanding casino performance in January 2024 showcases its resilience and attractiveness in the market. Despite challenges in the hotel sector, the integrated resort’s casino continues to draw significant attention, contributing substantially to Lotte Tour’s overall success. The impressive year-on-year growth, combined with the strategic relocation and expansion of the casino, positions Jeju Dream Tower as a key player in the thriving entertainment and hospitality landscape.