South Korea's Jeju Dream Tower Casino posts 93% revenue growth in 2024

Jeju Dream Tower, Lotte Tour's flagship integrated resort in South Korea, achieved a 93.3% year-on-year increase in casino revenue in 2024. The resort's casino operations generated KRW276.5 billion ($188 million), highlighting a strong post-pandemic recovery. However, hotel revenue declined by 7.8% to KRW84.5 billion ($57.4 million).

The final month of 2024 saw casino revenue climb 64.4% year-on-year to KRW23.6 billion ($16 million), though it marked a 9.5% decrease from November’s results.

According to filings with the Korea Exchange, table revenue accounted for KRW22.2 billion ($15.1 million), a 10.9% drop from November, while machine revenue grew 18.5% month-on-month to KRW1.45 billion ($984,000).

Jeju Dream Tower's table drop, representing the total amount wagered by players, reached KRW132.8 billion ($90.1 million) in December. This figure was a 5.2% increase from the same period in 2023 but a slight 1.8% decline compared to November.

In contrast, the resort's hotel segment faced challenges in December, recording revenue of KRW5.42 billion (US$3.68 million), a year-on-year decrease of 22.3% and a month-on-month decline of 2.7%. The downward trend in hotel earnings contrasted sharply with the growth observed in the casino sector.

Jeju Dream Tower, the tallest structure on Jeju Island at 38 stories and 169 meters high, offers a wide array of amenities. These include a retail mall, 14 dining venues, an outdoor pool deck, a top-floor sky deck with a lounge, two spas, and an expansive casino that spans over 5,000 square meters.

Relocated from its previous location at the Lotte Hotel Jeju in 2021, the casino boasts 150 gaming tables, 300 slot machines, and 71 electronic table games.