Jeju Dream Tower reports 89% increase in gaming sales for Q1
Jeju Dream Tower has reported sales of KRW16.36bn (US$12.2m) for the first quarter.
South Korea.- The casino at the Jeju Dream Tower has reported Q1 gaming sales of KRW16.36bn (US$12.2m) after rebates and commissions, a rise of 89 per cent sequentially and 33.1 per cent from the same quarter last year.
The casino-segment rolling chip volume experienced a quarter-on-quarter increase of 12.7 per cent, reaching KRW207.10bn (US$154.4m), up from KRW183.80bn (US$136.8m). The rolling chip volume rose 96.7 per cent year-on-year compared to the first quarter of 2022 (KRW105.30bn).
The casino segment reported a first-quarter operating loss of KRW2.17bn (US$1.6m) and a net loss of KRW2.19bn (US$1.6m). The property’s first-quarter operating loss was KRW33.40bn (US$24.9m), accompanied by negative KRW11.90bn (US$8.9m) in earnings before interest, taxation, depreciation, and amortisation (EBITDA).
Despite a slight decrease in the volume of visitors compared to the previous quarter (32,700 visitors versus 35,400), visitor numbers were up 28.7 per cent year-on-year from 14,300 in the first quarter of 2022.
For full-year 2022, Lotte Tour Development reported net casino sales of almost KRW43.68bn (US$33.4m), a 107.7 per cent increase from KRW21.03bn in 2021.
