Jeju Dream Tower Casino’s Record-Breaking Quarter
The Jeju Dream Tower casino, an exclusive facility for foreign visitors within the Grand Hyatt Jeju, has reported exceptional financial results for Q1 2024. Lotte Tour Development operates this integrated resort. Its casino segment achieved record-breaking revenue and saw a significant surge in visitors. This strong performance highlights Jeju Island’s growing appeal. It attracts both international travelers and high-stakes players.
Unprecedented Financial Performance
For the first three months of 2024, the casino at Jeju Dream Tower generated gross gaming revenue (GGR) of KRW59.9 billion. This is approximately US$43.5 million. It represents a substantial 33.3% quarter-on-quarter increase from the previous period. Growth was strong across both VIP and mass-market segments.
VIP gaming revenue saw a remarkable jump. It reached KRW44.8 billion (US$32.6 million), up 41.6% from Q4 2023. The mass-market segment also contributed significantly. Revenue climbed to KRW15.1 billion (US$11 million), a 14.4% increase. These figures show the casino’s success in attracting diverse patrons.
Surge in Visitor Numbers
The casino also welcomed a record number of visitors during Q1 2024. A total of 78,561 guests passed through its doors. This marked a 28.5% increase compared to the previous quarter. This rise in foot traffic directly correlates with the increased gaming revenue. It suggests a successful operational approach by Lotte Tour Development.
As of March’s end, the Jeju Dream Tower casino operated 142 gaming tables. This capacity caters to its expanding clientele. The facility relocated from the Lotte Hotel Jeju in June 2021. It remains a key attraction of the larger Dream Tower Integrated Resort.
Strategic Outlook and Resort Integration
Lotte Tour Development has set an ambitious target for 2024. They aim for KRW200 billion (US$145.4 million) in total gaming revenue. The company expects the casino to drive this goal. It consistently contributes about 70% of the integrated resort’s total revenue. This focus on gaming is vital for the resort’s continued profitability and growth.
The Dream Tower Integrated Resort is a vast complex on Jeju Island. It includes the luxurious Grand Hyatt Jeju hotel with 1,600 suites. Beyond gaming, the resort offers many amenities. These include 14 restaurants and bars, an outdoor infinity pool, and a high-end fashion mall. It provides a complete leisure and entertainment experience.