Jeju Dream Tower's Casino Revenue Falls 45% in September Despite Record Visitors

Lotte Tour Development reported a record number of visits to its integrated resort Jeju Dream Tower in September 2026, with 66,393 visitors, but the casino at the resort suffered a significant revenue decline that same month. According to information submitted to the Korea Exchange on October 1, 2026, the casino's revenue stood at KRW29.1 billion (US$21.4 million), a decrease of 45.1% year-on-year and 37.7% sequentially.

By Alejandro Vidal, Casino Correspondent.

Record visitation and mixed revenue results

The 66,393 visitors reported in September comfortably surpassed the previous high of 63,192 recorded in May 2026. The increase in visitation did not translate into comparable gaming revenue for two reasons outlined in the report: a decline in hold and a reduction in table game revenue. The total betting volume or 'drop' at the casino fell less than revenue, indicating lower net retention by the casino.

The monthly breakdown shows that total casino revenue was KRW29.1 billion (US$21.4 million). The majority came from table games, but table game revenue recorded a year-on-year decline of 49.6% to KRW25.8 billion (US$19.0 million). Slot machine revenue was the segment that grew: revenues from machines reached KRW3.31 billion (US$2.43 million), which represented a year-on-year increase of 80.6% and 21.3% compared to August.

Drop, hold and why revenue fell more than drop

The drop amount for the month was KRW237.8 billion (US$175 million), a decline of 10.5% year-on-year and 19.0% compared to the previous month. The divergence between the moderate drop decline and the steep revenue decline points to a lower hold rate in September.

The difference between drop and revenue is summarized as follows:

• September Drop: KRW237.8 billion (US$175 million), -10.5% year-on-year and -19.0% month-on-month.

• Casino Revenue: KRW29.1 billion (US$21.4 million), -45.1% year-on-year and -37.7% month-on-month.

This disparity indicates that, although customers wagered amounts relatively close to last year, the casino retained a lower percentage of those bets in September.

Performance by segment: tables vs slots

The table segment registered the hardest hit. Table game revenue dropped to KRW25.8 billion (US$19.0 million), -49.6% compared to September of the previous year. This decline accounts for the majority of the monthly loss in revenue, given that tables represent the predominant portion of the casino's turnover.

Slots reported recovery and expansion. Slot machine revenues reached KRW3.31 billion (US$2.43 million), a year-on-year increase of 80.6% and 21.3% compared to August. The improvement in slot machines was not enough to offset the decline in tables.

Cumulative performance in 2026 and financial context

For the first nine months of 2026, revenues at Jeju Dream Tower's casino increased by 17.7% to KRW393.1 billion (US$289 million). The aggregate drop amount during that period rose 10.1% to KRW1.96 trillion (US$1.44 billion).

These figures show that despite the monthly setback in September, the nine-month trend is one of growth in both revenue and activity measured by drop.

Operational implications and markets

The operator detailed these figures in the document filed with the Korea Exchange, which is the standard regulatory channel for listed companies in South Korea. Lotte Tour Development continues to manage the integrated resort Jeju Dream Tower in Jeju, South Korea, and the company is still reporting key indicators: visitation, drop, and revenue breakdown by tables and slots.

For analysts and service providers in the sector, the September data underscores two operational priorities: managing hold volatility and balancing the supply of tables against slots to improve the resilience of monthly revenues.

What operators and providers should monitor

Operators, gaming system providers, and revenue management consultants should closely watch:

1. Monthly hold rates by segment, which explain the difference between drop and revenue.

2. The evolution of the product mix (tables versus slots) and their response to promotions or changes in clientele.

3. The consistency of visitation versus conversion to gaming spend.

The quarterly report and statements sent to the Korea Exchange will allow for comparisons of these factors’ evolution in subsequent periods.

Relevance to the Asian integrated resort industry

Jeju Dream Tower is a reference point for competition in South Korea due to its size and visitor volume. The month of September represents a clear case of how record visitation does not guarantee high revenues if hold decreases. The takeaway for investors and regulators is that the drop indicator alone is not sufficient; hold rates and revenue structure by segment must also be analyzed.

For additional context on integrated resorts and market trends, consult the sector's comprehensive coverage in news.