Jeju Dream Tower, an integrated resort operated by Lotte Tour Development, posted revenue of 192.6 billion won in the second quarter, its highest-ever quarterly performance. The figure surpassed the 185.5 billion won recorded in the third quarter of last year, which had been the summer peak season.
Lotte Tour Development said in a regulatory filing Tuesday that Jeju Dream Tower recorded 64 billion won in revenue during June, combining casino net revenue and separate hotel revenue. That marks a 29.4% increase from 49.4 billion won in June last year. Jeju Dream Tower posted monthly revenue in the 60 billion won range for three consecutive months from April to June.
The casino led the performance. The Dream Tower casino's net revenue in the second quarter was 147.088 billion won, up 33.7% from the same period last year. That exceeded the previous quarterly record of 142.723 billion won set in the fourth quarter of last year.
Casino visitors also increased. Casino visitors in the second quarter totaled 182,872, up 23.2% from a year earlier. Table drop reached 637.498 billion won, up 11.1% from the previous quarter. The hold rate, which refers to the percentage the casino collected from the table amount, was 22.1%, an improvement of 4.7 percentage points from 17.4% in the same period last year.
The hotel segment also continued its growth. Second-quarter revenue for the hotel segment, including Grand Hyatt Jeju, was 45.478 billion won, up 10.7% from a year earlier and 19.3% from the previous quarter. During the same period, the number of rooms sold reached 128,600, with an average occupancy rate of 88.3%.
Looking at June alone, hotel revenue was 15.293 billion won, up 12% from the same month last year. The occupancy rate rose to 90%. Of this, foreign guests accounted for 78.2%, and rooms used by casino customers averaged 833 per day, making up 52.1% of all rooms.
"Beyond Jeju Dream Tower's quarterly results, cruise ship operation results in the travel segment are reflected in the second quarter, so we expect record-high performance for both the first half and the full year," a Lotte Tour Development official said.
