[Market Focus] Lotte Tour Development Surges on Strong Q2 Results...Hits Record High

Lotte Tour Development continued its upward trend for the third consecutive day, reaching a new 52-week intraday high.

As of 9:15 a.m. on August 6, Lotte Tour Development was trading at 18,600 won on the Korea Exchange, up 250 won (1.36%) from the previous day. During intraday trading, the price climbed to 18,840 won, setting a new 52-week high.

The strong performance in the second quarter of this year contributed to the rise in share price. On the previous day, Lotte Tour Development announced in a regulatory filing that its consolidated operating profit for the second quarter was provisionally tallied at 33.1 billion won, a 463% increase compared to the same period last year. Revenue rose 36% to 157.7 billion won, and net profit turned positive at 5.9 billion won.

Lee Kihun, a researcher at Hana Securities, stated, "Since March, the number of casino visitors has risen sharply, increasing from an average of 36,000 in the second half of last year to 57,000 in July." He added, "July revenue also reached a record high of 43.4 billion won, a 90% increase compared to the same period last year. As a result, we have raised our third-quarter operating profit forecast to 40 billion won, and the revised annual operating profit forecast is 119 billion won. Considering that our initial operating profit estimate at the beginning of the year was about 70 billion won, this represents an upward revision of approximately 70%."