TLDR KB Securities expects Lotte Tour Development’s September quarter earnings to fall short of forecasts. Jeju Dream Tower’s club membership rose to 166,000 in the third quarter, up from 149,000 in the second quarter. Spending per visitor has not kept pace with rising attendance, which an analyst linked to policy changes in China. Average daily revenue per gaming table is about KRW13 million, compared with KRW20 million in Macau. September set a new visitor record, but casino revenue fell sharply because of lower hold.
Lotte Tour Development is expected to report weaker than forecast earnings for the September 2026 quarter, according to KB Securities. Even so, the Korean financial group says the company’s Jeju Dream Tower still has room to grow.
The property runs a foreigner-only casino in Jeju City, South Korea. KB Securities pointed to rising visitor numbers and the chance to raise gaming table revenue as reasons for its view.
The revised outlook also takes into account the company’s VIP rolling table business. That part of the operation has not yet produced strong results.
China Policy Changes Weigh on Visitor Spending
More people are visiting the casino, but the amount each visitor spends has not kept pace. Choi, the KB Securities analyst behind the report, linked this trend to policy changes in China.
The figure in question is known as drop amount. It tracks the cash customers exchange for gaming chips.
At Jeju Dream Tower, growth in drop per guest has not matched the rise in attendance. Choi’s assessment separates the number of people coming through the door from how much each person spends.
A Chinese crackdown on undeclared overseas income is among the risks built into the new forecasts. Together with the weak VIP rolling results, it led to a more cautious view of