Jeju Dream Tower posts gross gaming revenue of US$11.8m for Q2
The Jeju Dream Tower casino resort has shared its financial report for the second quarter of the year.
South Korea.- The casino at South Korea’s Jeju Dream Tower has reported that gross gaming revenue was down 17.3 per cent from KRW18.5bn (US$14.5m) in the first quarter of the year to KRW15.3bn (US$11.8m) in the three months to June 30.
The venue’s promoter, Lotte Tour Development, posted revenue of KRW52.1bn (US$40.2m). The figure was up 27.1 per cent quarter on quarter. Sales revenue for the hotel segment, which includes hotel rooms and food and beverages was about KRW34.0bn (US$26.2m), up 23.6 per cent quarter-on-quarter.
Hotel room revenue in the second quarter was KRW22.4bn. Food and beverage sales totalled KRW 11.6bn. The retail division’s sales were up 133.3 per cent from KRW1.2bn to about KRW2.8bn (US$2.2m).
The company has raised its third-quarter consolidated sales forecast to KRW90bn, which, if achieved, would be nearly 73.0 per cent higher than the second quarter. The casino operator estimated that casino GGR in the third quarter will be KRW36bn, which would be up 135.3 per cent from the second quarter.
South Korea has already resumed issuing short-term tourist entry for individual tourists and tour groups. Citizens of most countries can stay in South Korea for up to 90 days for tourism, business trips, medical treatment, visiting relatives, and conference attendance.
