Jeju Dream Tower gross gaming revenue down 17.6% in Q3

Some 24,589 people visited the casino in Q3.
Some 24,589 people visited the casino in Q3.

The casino operator has posted gross gaming revenue of US$9.6m for the third quarter of the year.

South Korea.- The casino at South Korea’s Jeju Dream Tower has shared its financial report for the third quarter of the year. Gross gaming revenue (GGR) was up 17.6 per cent from KRW15.3bn (US$11.8m) in the second quarter to KRW12.6bn (US$9.6 m) for the three months to September 30.

Lotte Tour Development Co Ltd reported that revenue from its mass-market tables rose by 15.2 per cent quarter-on-quarter to nearly KRW9.1bn. VIP segment revenue fell 52.1 per cent to about KRW3.5bn while VIP rolling chips amounted to KRW 73.7bn, down 39.1 per cent. There were 24,589 visits to the venue, a 24.8 per cent increase from the previous three months.

Gross gaming revenue after rebates and commissions was KRW10.5bn, down 13.9 per cent drop from the previous quarter. Group-wide, Lotte Tourism Development reported an operating loss of 27bn and earnings before interest, tax, depreciation and amortization (EBITDA) of KRW5.6bn. 

Last month, Lotte Tour Development Co announced that it would bring Japanese VIP players to its Jeju Dream Tower through two round-trip air charters to Jeju island from Tokyo Narita airport. The first group arrived at Jeju International Airport on November 4 and flew back to Japan on November 6. A second group will arrive on December 30 and fly back on January 3.

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Jeju Dream Tower