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August casino sales at Jeju Dream Tower fell by 11% month over month

September 5, 2023 South Korea Casino & Hotel

Original Story by Newsdesk for GGRASIA

According to a filing with the Korea Exchange on Tuesday, the Jeju Dream Tower casino resort, which is located on the South Korean tourist island of Jeju, had a 10.9 percent decrease in casino sales month over month in August, dropping to roughly KRW17.90 billion (equal to US$13.5 million). However, these sales significantly increased by 352.8 percent when compared to the same time last year.

Financial information is available on the website of the resort’s operator, Lotte Tour Development Co Ltd. The resort’s foreigner-only gaming facility had slightly more than KRW20.09 billion in casino sales in July, marking a monthly record for the casino since its launch in June 2021.

These reported casino sales figures account for commissions and rebates.

Sales of table games were slightly over KRW15.90 billion in August, a slight decline of 9.2% from the previous month but a considerable increase of 377.4% over the same time last year, when the island’s tourism was still being negatively hit by the Covid-19 outbreak. About KRW 2.0 billion worth of machine games were sold in August, a 22.4 percent decline from the previous month but an astounding 221.3 percent growth from the year before.

Customers’ payments for chips for table games, known as the “casino table drop” for August, were over KRW132.75 billion. In comparison to the previous month, this statistic increased by 1.9 percent, and when compared to the same time last year, it increased by a staggering 210.0 percent.

Hotel sales in August totaled over KRW 10.54 billion, a rise of 8.8% from month to month but a decrease of 11.08% from the same month the year before.

The report gave no explanations for these variations in detail.

Casino revenues during the first eight months of the year totalled roughly KRW 86.03 billion, which represents a significant growth of 171.0 percent when compared to the same time last year. Sales of table games increased by 169.8% year over year to KRW77.07 billion during this time, while sales of machine games increased by 182.7% to roughly KRW8.95 billion. The total casino table loss for the first eight months of the year was close to KRW784.41 billion, a huge increase of 207.2 percent over the same time last year.

The total amount of hotel sales from January to August was roughly KRW61.36 billion, a 24.8 percent decrease from the same time last year.

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