{"id":15440,"date":"2021-03-03T15:53:31","date_gmt":"2021-03-03T15:53:31","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=15440"},"modified":"2026-04-23T21:23:23","modified_gmt":"2026-04-24T00:23:23","slug":"lotte-tour-development-reports-us70m-net-loss","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/lotte-tour-development-reports-us70m-net-loss","title":{"rendered":"Lotte Tour Development reports US$70m net loss"},"content":{"rendered":"\n<p>Analysts attribute the loss to the Covid-19 pandemic and costs associated with the opening of Jeju Dream Tower. <\/p>\n\n\n\n<!--more-->\n\n\n\n<p>South Korea.- <strong>Lotte Tour Development,<\/strong> the operator of<strong> <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/jeju-dream-tower-hotel-gets-5-star-rating\" target=\"_blank\">Jeju Dream Tower<\/a><\/em><\/strong><\/strong>,<strong> <\/strong>has reported a <strong>net loss of KRW78.8bn (US$70.1m)<\/strong> for the <strong>2020 financial year.<\/strong><\/p>\n\n\n\n<p>Lotte Tour&#8217;s sales reached <strong>KRW16.7bn<\/strong>, a decline of <strong>around 81 per cent year-on-year.<\/strong><\/p>\n\n\n\n<p>It attributed losses to the <strong>Covid-19 pandemic <\/strong>and the <strong>costs associated with the launch of operations at Jeju Dream Tower.<\/strong><\/p>\n\n\n\n<p>The tower <strong><em><a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/jeju-tower-obtains-hotel-permit-for-grand-opening\" target=\"_blank\">opened late last year<\/a><\/em><\/strong>. Construction first began in the 1980s but was halted due to a lack of funding. In May 2016, construction resumed after changes to the design.<\/p>\n\n\n\n<p>The tower contains <strong>1,600 rooms, a shopping centre, <\/strong>and<strong> an observatory, <\/strong>among other facilities. Lotte hopes to gain permission <strong>to open the Dream Tower Casino next month.<\/strong><\/p>\n\n\n\n<p>Analysts expect the company&#8217;s financial position to improve once the casino is up and running.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Analysts attribute the loss to the Covid-19 pandemic and costs associated with the opening of Jeju Dream Tower.<\/p>\n","protected":false},"author":2,"featured_media":15455,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Lotte Tour Development reported a net loss of KRW78.8bn (US$70.1m) for the 2020 financial year, with sales declining 81% year-on-year. This performance is attributed to the COVID-19 pandemic and initial operational costs associated with the launch of Jeju Dream Tower. The company anticipates improved financial performance upon securing regulatory approval to commence casino operations at Jeju Dream Tower next month.","focusai_entities":"Lotte Tour Development, Jeju Dream Tower","focusai_location":"South Korea, Jeju","focusai_target_profile":"ceo_executive (0.9), regulator (0.7), compliance_legal (0.7), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Casino Licensing Timeline","query":"What specific regulatory hurdles and governance frameworks must Lotte Tour Development navigate to secure the Dream Tower Casino operating license, and what is the projected timeline for approval?"},{"label":"Post-Launch GGR Projections","query":"Based on regional market dynamics and competitive landscape, what are the GGR and NGR projections for Jeju Dream Tower's casino operations in its first 12-24 months, and how will this impact Lotte Tour Development's EBITDA?"}],"footnotes":""},"categories":[16338,163],"tags":[23851],"class_list":["post-15440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-lotte-tour-development"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15440","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=15440"}],"version-history":[{"count":6,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15440\/revisions"}],"predecessor-version":[{"id":15461,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/15440\/revisions\/15461"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/15455"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=15440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=15440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=15440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}