Jeju Dream Tower sees surge in casino revenues, reaches $116 million in 2023

In 2023, casino revenues at Lotte Tour’s Jeju Dream Tower integrated resort increased by an incredible 249%, totaling KRW152.3 billion (US$116 million).

This remarkable achievement was ascribed to both the continual influx of foreign tourists and Korea’s recuperation from the COVID-19 pandemic.

The huge gain in 2023 was made up of a 149% increase in machine revenue, reaching KRW14.3 billion (US$10.9 million), and a 264% increase in table games income, reaching KRW138.0 billion (US$105 million), according to information filed with the Korea Exchange on Tuesday.

The resort’s casino earnings decreased by 20.6% month over month to KRW14.2 billion (US$10.8 million) in December, despite the general upward trend.

Despite the robust performance of the casino, hotel income decreased by 22.3% year over year to KRW91.7 billion (US$69.8 million) in 2023. In addition, hotel revenue in December decreased by 21.4% year over year to KRW6.98 billion (US$5.3 million).

The Jeju Dream Tower is the highest structure in Jeju, at 38 stories or 169 meters tall. It has a number of features, such as a shopping center, 14 eateries and bars, an outdoor pool deck, a lounge on the top level of the skyscraper, two spas, and a casino with 300 slot machines and 150 tables.

The casino will relocate from its current location in the smaller Lotte Hotel Jeju in June 2021. With 141 gaming tables, 190 slot machines, and 71 electronic table games, the casino spans more than 5,000 square meters and plays a significant role in the overall success of the Jeju Dream Tower integrated resort.

Original story by: IAG