South Korea’s Jeju Dream Tower, operated by Lotte Tour Development, saw a decrease in its month-on-month revenue in June 2024 when compared to May.
According to its latest financial update, Jeju Dream Tower’s casino net revenue for June amounted to KRW 18.95bn, a decrease of KRW 8.16bn when compared to the earnings in May of KRW 27.11bn ($19.7m). The decrease of at least 30% may have been affected by the drop in visitors during June, where the total of visitors was 28,794, compared to May's 29,754.
Compared to last June however, with 22,251 visitors and a revenue of KRW10.29bn, this month reflects year-on-year growth for the casino.
Of the total revenue, net revenue for table games was KRW 17.76bn, a 27.6% decrease month-on-month but an increase of 88.9% year-on-year.
The same was also reported for machine games, which reached KRW 1.19bn ($860,000) in revenue; a 53.5% decrease from May but an increase of 33.1% from last year’s results.
According to South Korean news agencies, the casino experienced a temporary closure of two hours recently due to a fire incident. Lotte Development was also reported to have plans to improve the casino hotel in the near future.
Jeju Dream Tower is one of the several licensed foreigner-only casinos on Jeju Island which begin operations in 2021. Jeju Dream Tower casino is the third of several casinos on the island currently operating; two others include Paradise Casino Jeju Grand and Landing Casino.
