Jeju Dream Tower Casino, operated by Lotte Tour Development Co. on South Korea’s renowned Jeju Island, has reported significant revenue growth this year, surpassing $6 million in cumulative earnings. This increase is largely attributed to the resurgence of Chinese tourists, a demographic that had previously dwindled due to the COVID-19 pandemic.
In a recent announcement, Lotte Tour Development disclosed that the casino generated net sales of 20.87 billion won ($20.3 billion) in the last month alone, with gross sales accounting for agent fees. The cumulative revenue for the year has reached an impressive 90.96 billion won, marking a 243.5% increase compared to the same period last year. Additionally, last month’s table drops—a measure of the cash exchanged for chips—hit a record high of 128.3 billion won.
The uptick in visitors and revenue coincides with the gradual recovery of international tourism, particularly from China. Data from the Korea Tourism Organization indicates a steady increase in Chinese visitors to South Korea, with numbers growing from 280,000 in January to 390,000 in March.
The positive trend is expected to continue, especially with the overlap of Japan’s Golden Week and China’s Labor Day holidays in early May, traditionally peak travel periods that draw significant tourist traffic to Jeju. This ‘super week’ is anticipated to further boost visitor numbers and, consequently, casino revenues.
Industry analysts remain optimistic about Lotte Tour Development’s performance, predicting robust results for May and potentially beyond as travel restrictions ease and tourism regains momentum. The resurgence of Chinese tourists is particularly promising, signaling a robust recovery and a bright outlook for Jeju’s tourism-dependent economy.
