Lotte Tour Development, the operator of the Jeju Dream Tower integrated casino-resort, has posted March sales above the 50 billion won ($33 million) mark for the first time in its history.
The firm reported that strong performance in the casino sector led to improved earnings, per the South Korean newspaper Chosun Ilbo.
The firm posted March casino and hotel revenues of 52.6 billion won, or almost $35 million, in the casino and hotel sectors last March.
This represents a 15% increase compared to February’s figures, as well as an 22% rise on March 2025 revenues.
March is traditionally considered the off-peak season in South Korea, coming after the end of the Lunar New Year holiday period.
This typically results in a slowdown in visitor numbers from East Asian destinations like China and Japan, leading to a drop in casino footfall.
“Last year, when our monthly sales only reached the 50 billion won range in May,” said a Lotte Tour Development spokesperson. “But we have reached that point two months earlier this year. This is blurring the boundary between peak and off-peak seasons.”
Casino revenue rose by 24% month-on-month in March. This also marked a rise of around 25% on the casino’s March 2025 numbers.
Dream Tower Casino: Record-breaking March
Dream Tower Casino table drop figures also rose by 25% month-on-month, with visitor numbers up 22% from February to reach 53,587.
Hotel room occupancy rates rose to over 73%.
In its recently published annual earnings report, Lotte Tour Development revealed that it had reversed its four-year streak of financial losses, with casino footfall up by 62% on FY2025.
The firm also posted an all-time revenue high of $433 million, a year-on-year rise of almost 39%.
The news failed to move the company’s share price, however. South Korean casino operators’ share prices have been in freefall over the past month amid a market slowdown.
Lotte Tour Development’s share prices are down over 17% over the past five days.
Share Prices Sliding
Rivals, such as Paradise (the operator of the Incheon-based Paradise City casino-resort) have also seen share prices slip. Paradise’s shares are down 12% over the same period, with rival Kangwon Land seeing share prices fall by almost 7%.
The Dream Tower casino opened its doors in 2020 in Jeju, a popular destination for Chinese tourists.
The subtropical island province is now home to eight casinos that cater exclusively to foreign passport holders.
However, police report that gambling-related crime is spiking on the island. Detectives say illegal currency exchanges are springing up around casino hotspots.
Police also arrested several Chinese individuals after what they described as a “riot” broke out in a Jeju casino in September.
A brawl involving around 50 individuals broke out after a Chinese casino user accused a dealer of rigging a table game.
Several casino employees were also involved in the fracas, police officials said. Many Chinese gamblers said they had instinctively rushed to the aid of their fellow countrymen.
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Lotte Tour Development, the operator of the Jeju Dream Tower integrated casino-resort, has posted March sales above the 50 billion won ($33 million) mark for the first time in its history. The firm reported that strong performance in the casino sector led to improved earnings, per the South Korean newspaper Chosun Ilbo. The firm posted
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