[Click eStock] "Lotte Tour Development, Rapid Increase in Foreign Visitors to Jeju... Expectations Becoming Reality"

On the 5th, SK Securities analyzed that the surge in foreign visitors to Jeju Island is turning expectations into reality for Lotte Tour Development.

Na Seung-du, a researcher at SK Securities, stated in a report on the same day, "Last month, casino monthly sales exceeded 27 billion KRW, setting a new monthly record since the opening of Jeju Dream Tower," and explained, "The average monthly casino visitors have increased to around 27,000 this year, and the drop amount has also surpassed an average of 130 billion KRW per month."

Researcher Na added, "Along with the increase in hotel OCC, the Jeju Dream Tower has begun a streak of monthly sales record-breaking," and forecasted, "If the current trend continues, achieving operating profit in the second quarter following the first quarter this year is certain."

Recently, the number of foreign tourists visiting Jeju Island is rapidly recovering. Until last month, approximately 727,000 foreign tourists visited Jeju Island, marking the highest level since the COVID-19 pandemic. While duty-free shopping centered on group tourists was booming in the past, the biggest difference now is that individual tourists make up a large proportion of foreign visitors to Jeju and pursue practical consumption.

He analyzed, "The increase in the proportion of individual tourists compared to group tourists means that access to Jeju Island for casino VIP customers has become somewhat easier," and added, "International flights at Jeju International Airport are estimated to have recovered to about 70% of pre-COVID-19 levels."

He continued, "There is still sufficient capacity to increase international flights. It is also positive that package tour products that enjoy shopping tourism in Japan amid the weak yen and then pass through Jeju are increasing," and explained, "Jeju Dream Tower is close to Jeju International Airport and has the largest casino, which is enough to attract tourists' attention."