Casino sales at Jeju Dream Tower increases at 38.3% month-on-month

The casino revenues at the Jeju Dream Tower resort in South Korea increased by 38.3% month over month in October, hitting KRW 19.81 billion (about US$117.6 million), according to the resort’s operator, Lotte Tour Development Co Ltd. This was a recovery after the two consecutive months of declining casino earnings in August and September.

Lotte Tour states that its casino sales numbers are disclosed after deducting agency fees, and they may not exactly match industry data collected by the Casino Association of South Korea.

October’s outstanding performance was matched by an 8.6% rise in casino patronage, totaling 30,582. The bulk of casino revenue, or KRW 18.53 billion, came from table games and increased by 41.0% from September. October saw an 8.2% increase in machine game sales to KRW 1.28 billion, while the hold rate for these games increased from 9.8% in September to 12.9% in October.

Casino revenue rose by an astounding 505.9% year over year in October 2022 compared to the same month the previous year. It is predicted to reach KRW 3.27 billion.

Hotel revenues fell 13.6% year over year and 17.1% sequentially in October, reaching little under KRW 9.27 billion.

Over the first 10 months of 2023, total casino revenues came to KRW 120.17 billion, a staggering 213.8% rise over the same time in 2022.

The data shows that in October, there was a 38.3% rise in the casino table drop amount, which represents client sales of gaming chips at tables, to little under KRW 143.45 billion. The table drop for the first 10 months of 2023 was just over KRW 1.03 trillion, which is a phenomenal 177.9% growth from the previous year.

Original story by: GGRAsia