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[Alpha Biz=(Chicago) Reporter Paul Lee] Lotte Tourism Development has achieved its first surplus in two years and nine months since the opening of the Jeju Dream Tower Complex Resort.
Lotte Tourism Development announced on the 13th that its sales in the third quarter of this year reached 96.8 billion won. For the first time since the opening of the Dream Tower, the company has succeeded in turning into a surplus (operating profit of 340 million won).
The third quarter sales of Jeju Dream Tower Complex Resort, a key business of Lotte Tourism Development, are 82 billion won. It showed nearly double growth compared to the same period last year (43.5 billion won).
The casino sector (Dream Tower Casino) posted net sales of 52.323 billion won in the third quarter. Net casino sales, which stood at 16.3 billion won in the first quarter of this year, grew 65 percent from 31.7 billion won in the second quarter. It surpassed 50 billion won in quarterly sales for the first time since the casino was opened (June 2021).
The table drop in the third quarter (the amount that casino customers converted into chips) was 366.8 billion won, surpassing the previous record of 314.3 billion won in the previous quarter. It grew 2.85 times from 129.3 billion won in the same period last year.
The number of casino users also jumped more than 3.3 times to 83,888 from 24,859 in the same period last year. It is an increase of more than 33% from the previous quarter (62,834).
Along with casinos, sales in the hotel sector (Grand Hyatt Jeju) in the third quarter (on a separate basis) also rose 20 percent to 28.1 billion won from 23.4 billion won in the second quarter, continuing quarterly sales of 20 billion won for the second and third consecutive quarters this year.
In terms of sales rooms, the number of rooms in the third quarter was 108,362, up 28% from the previous record of 84,668 in the second quarter.
AlphaBIZ 김지선(stockmk2020@alphabiz.co.kr)
