Lotte Tour Development Co Ltd has confirmed Jeju Dream Tower achieved its first positive EBITDA in December.
South Korea.- Lotte Tour Development Co Ltd has announced that Jeju Dream Tower’s December earnings before interest, taxes, depreciation and amortization (EBITDA) have achieved positive values for the first time since the casino opened in June.
The company stated in a press release that December’s EBITDA at the Jeju Island venue was KRW1.48bn (US$1.23m).
Gaming revenue this month was KRW8.13bn, the highest monthly revenue since the launch of the property.
Jeju Dream Tower’s total sales revenue of its three business units, including casinos, hotels and shopping centres was approximately KRW20bn in December.
The casino operator also stated that hotel sales alone through its Jeju Grand Hyatt brand accommodation reached KRW11.5bn, a monthly record.
The total operating profit of the resort for the month was close to KRW730m.
Lotte Tour Development opened a new phase of Grand Hyatt Jeju Hotel on November 29. The complete venue with its two 38-floor towers covers a total floor area of 303,737 square metres.
The Jeju Dream Tower casino opened its doors in June after passing a final inspection. It has 141 game tables offering five types of table games, 190 slot machines and 71 electronic gaming machines. It also includes an ETG master table.