Lotte Tour Development Co says the Jeju Dream Tower casino will receive around 1,000 VIP gamblers from overseas this month.<\/p>\n\n\n\n\n\n\n\n
South Korea.- Lotte Tour is expanding sales staff for its Jeju Dream Tower<\/strong> as it hopes to win more VIP business from Macau and Australia. The operator hired 20 casino industry workers specialising in overseas sales in May, including former executives from The Star Sydney. <\/p>\n\n\n\n It says it plans to hire 30 more sales managers after the full resumption of international flight services to Jeju Island.<\/p>\n\n\n\n Lotte Tour says it expects to receive around 1,000 overseas VIP players\u00a0this month. According to GGRAsia, the players will arrive from Singapore. Lotte Tour Development Co Ltd said it has started working with nine junkets with the aim of attracting new clients from other countries in the region.<\/p>\n\n\n\n Lawrence Teo<\/strong>, chief operating officer, said southeast Asian junket operators have been turning to South Korea while the junket business in Macau and Australia has declined. He added that Jeju’s casino business is “focusing on the\u00a0visa-free tourist entry program<\/a>\u00a0and the region’s consumer interest in Korean pop culture.<\/p>\n\n\n\n In July,\u00a0Jeju Dream Tower<\/a>\u00a0reported that gross gaming revenue was down 17.3 per cent from\u00a0KRW18.5bn (US$14.5m) in the first quarter<\/a>\u00a0of the year to KRW15.3bn (US$11.8m) in the three months to June 30.<\/p>\n\n\n\n The company\u00a0raised its third-quarter consolidated sales forecast to KRW90bn<\/strong>, which, if achieved, would be nearly 73 per cent higher than the second quarter. The casino operator estimated that\u00a0casino GGR in the third quarter would be KRW36bn<\/strong>, which would be up 135.3 per cent from the second quarter.<\/p>\n","protected":false},"excerpt":{"rendered":" Lotte Tour Development Co says the Jeju Dream Tower casino will receive around 1,000 VIP gamblers from overseas this month.<\/p>\n","protected":false},"author":176,"featured_media":16703,"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 Co's Jeju Dream Tower casino is strategically expanding its VIP segment, anticipating 1,000 overseas high-net-worth players this month, supported by an enlarged sales team and nine new junket partnerships. This initiative targets market share from declining junket operations in Macau and and Australia, leveraging Jeju's visa-free policy and cultural appeal, and is projected to significantly boost Q3 GGR despite a Q2 decline.","focusai_entities":"Lotte Tour Development Co, Jeju Dream Tower, The Star Sydney, GGRAsia, Lawrence Teo","focusai_location":"South Korea, Jeju Island, Singapore, Macau, Australia","focusai_target_profile":"ceo_executive (0.95), regulator (0.7), compliance_legal (0.75), operator_casino (0.98), investor_analyst (0.97), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"VIP Market Share Shift","query":"What specific regulatory or market conditions in Macau and Australia are driving the observed decline in junket business, and how sustainable is Jeju's current competitive advantage?"},{"label":"Q3 GGR Forecast Drivers","query":"Beyond the anticipated VIP influx, what operational efficiencies or marketing initiatives underpin Lotte Tour's aggressive Q3 GGR forecast of KRW36bn, representing a 135.3% increase?"}],"footnotes":""},"categories":[157,16338],"tags":[23632,23907,23851],"class_list":["post-32543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-integrated-resorts","tag-land-based-casino","tag-lotte-tour-development"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32543","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\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=32543"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32543\/revisions"}],"predecessor-version":[{"id":32570,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/32543\/revisions\/32570"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/16703"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=32543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=32543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=32543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}