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S.Korea casino op Lotte tour cuts annual loss to $153 million

Lotte Tourism Development Co., the operator of Jeju’s Dream Tower Casino Resort (pictured) located on Jeju Island, posted an annual net loss of 203.55 billion won ($152.7 million) in 2023, according to a Thursday filing with the Korea Exchange.

This represents a 9.4% year-on-year increase from a net loss of 224.71 billion won in 2022.

Lotte Tour’s annual revenue rose 70.7% to nearly 313.55 billion won in 2023.

In January, annual casino sales at foreign-only casinos in Jeju Dream Tower rose 248.7% year-on-year to 152.3 billion won in 2023.

Lotte Tour said in a recent filing to the stock exchange that its operating loss in 2023 was slightly below 60.6 billion won, a 49.0% improvement over 2022.

Nevertheless, Lotte Tour’s total debt stood at nearly 1.70 trillion won in 2023, up 8.2 percent from a year earlier.

BY: 메이저 토토사이트

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