[Edaily Reporter KIM JUNG YOU ] LOTTE TOUR DEVELOPMENT CO., LTD(032350)announced on the 1st that it recorded sales of 64 billion won as of last month, marking a 29.4% increase compared to the same period last year.

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LOTTE TOUR DEVELOPMENT CO., LTD has recorded sales in the 60 billion won range for three consecutive months since last April. Net sales (total sales minus commissions and other fees) for its core business, the Dream Tower Casino, reached 147 billion won in the second quarter, a 33.7% increase compared to the same period last year.

The number of casino visitors in the second quarter reached 182,872, a 23.2% increase year-over-year, and table drop (money exchanged for chips for gaming) also totaled 637.5 billion won.

The average quarterly hold rate (the percentage of table revenue retained by the casino) was 22.1%, up 4.7 percentage points from the same period last year. According to LOTTE TOUR DEVELOPMENT CO., LTD, the average hold rate for nine mega-resorts, including The Venetian Macao, stood at 25.1% as of the first quarter of this year, and the company explained that its hold rate has risen to a level close to that figure.

A company official explained, “The hold rate improved significantly as the average daily number of open tables increased substantially due to rising visitor numbers, coupled with a rise in the number of customers staying for a week or longer (long-stay guests).”

As of last month, net casino revenue reached 48.7 billion won, a 36.1% increase year-over-year, while the number of visitors and table drop amounted to 61,146 and 224.5 billion won, respectively, representing increases of 18.7% and 2.5%.

In the hotel segment (Grand Hyatt Jeju), second-quarter revenue reached 45.4 billion won, a 10.7% increase compared to the same period last year. The number of rooms sold reached 128,600, achieving an average occupancy rate (OCC) of 88.3%. Foreign guests accounted for 77.3% of all guests staying in sold rooms. As of last month, hotel revenue stood at 15.3 billion won, a 12% increase.

The company stated, “In addition to Jeju Dream Tower’s record-breaking quarterly performance, the cruise ship operations in the travel division were also reflected in the second quarter results; therefore, we expect not only the first half but also the full-year results to reach all-time highs.”