[Click eStock] "Lotte Tour Development, Performance Improvement Widens Gradually in the Second Half"

Kiwoom Securities forecasted on the 18th that Lotte Tour Development's performance improvement will expand as the second half of the year progresses.

Namsoo Lee, a researcher at Kiwoom Securities, stated in a report on the same day, "Although the recovery of contributions from China’s performance is not as expected, the overall detailed data of casinos and hotels are on an improving trend due to the expansion of airline ticket infrastructure," and analyzed, "The casino recorded 87.5 thousand visitors (147.4% year-on-year), a drop amount of 431.4 billion KRW (99.9% year-on-year), and a hold rate of 12.1% (up 8.1 percentage points year-on-year), while the hotel is expected to have an OCC of 62.2% (up 9.1% year-on-year)."

Researcher Namsoo Lee predicted that this year’s Lunar New Year performance will improve more than last year’s Mid-Autumn Festival. He said, "The casino achieved 11.05 billion KRW in performance over the 8-day Mid-Autumn Festival holiday last year, with a daily average of 1.38 billion KRW," and added, "This year, using last year’s second half performance as the baseline and reflecting quarterly Chinese holiday events, we expect the growth rate to expand as the second half progresses."

He continued, "We anticipate simultaneous improvement in casinos and hotels due to an increase in foreign visitors to Jeju Island following the expansion of airline tickets and the casino boom based on Chinese holidays."