Jeju Dream Tower casino sales surge 97% in November, GKL marks 12.9% rise

01-10-2020 |  

South Korea’s gaming sector maintained positive momentum in November, supported by Jeju Dream Tower’s strong performance and a steady uptick at foreigner-only operator Grand Korea Leisure (GKL).

Jeju Dream Tower, operated by Lotte Tour Development, recorded a 97 percent year-on-year surge in casino sales, while GKL reported a 12.9 percent increase, reflecting strengthening table-game demand across both operators.

Jeju Dream Tower recorded KRW51.36 billion ($38.5 million) in casino sales for the month, nearly doubling the KRW26.08 billion ($19.5 million) posted a year earlier. Month-on-month, revenue rose 1.9 percent, supported almost entirely by table-game performance. Table-game sales reached KRW49.89 billion ($37.4 million), up 3.2 percent from October and 100.7 percent year on year. Machine-game revenue declined 28.8 percent month-on-month to KRW1.47 billion ($1.1 million), though it remained 19.6 percent higher than in the prior year.

Hotel operations at the integrated resort weakened, with November sales falling 12.7 percent year on year to KRW6.46 billion ($4.8 million). No monthly comparison was provided.

For January to November, Jeju Dream Tower’s casino revenue climbed 60.7 percent year on year to KRW435.68 billion ($326.9 million). Table games contributed KRW416.72 billion ($312.5 million), up 63.9 percent, while machine-game revenue increased 13.3 percent to KRW18.96 billion ($14.2 million). Hotel revenue for the same period totaled KRW73 billion ($54.7 million), down 7.7 percent year on year.

The company also highlighted operational considerations affecting investor sentiment, including revenue-sharing commitments with agents and marketing partners. Total drop volume for November reached KRW235.78 billion ($177 million), down 8.2 percent month-on-month but up 74.4 percent year-on-year. Jeju Dream Tower maintained a 62.5 percent hold rate, while year-to-date drop rose 63.8 percent to KRW2.27 trillion ($1.7 billion).

Across the broader market, fellow foreigner-only operator GKL also reported a strong November. Casino sales reached KRW36.98 billion ($28.45 million), up 12.9 percent year on year, driven by a 13.7 percent rise in table-game revenue.

Month-on-month growth was particularly strong, with total casino sales increasing 46.2 percent from October’s KRW28.56 billion ($21.97 million). Table-game revenue surged 52.6 percent month-on-month to KRW38.38 billion ($29.52 million), while machine-game revenue dipped 1.1 percent month-on-month to KRW3.37 billion ($2.59 million).

For the year to date through November, GKL posted KRW354.91 billion ($272.24 million) in cumulative casino revenue, up 9.6 percent year on year. Table-game revenue rose 9.2 percent to KRW323.09 billion ($248.53 million), while machine-game revenue grew 13.8 percent to KRW31.82 billion ($24.47 million).

GKL operates three foreigner-only casinos under the Seven Luck brand in Seoul and Busan, and its monthly performance remains a key indicator of foreign-visitor gaming demand in South Korea.

Source: AGBrief