Jeju Dream Tower opens in June

Lotte Tour Development’s Jeju Dream Tower is set to open its doors in June, after completing an inspection of casino equipment and the hiring of marketing and service employees.  The casino will have the third-largest casino floor in all of South Korea, following only Paradise City in Incheon and Jeju Shinhwa World. The great uncertainty, however, remains the question of whether or not the Covid pandemic will allow significant numbers of foreign tourists to return to Jeju and bring business back to its eight struggling foreigner-only casinos.  However, executives are expecting the casino to generate at least KRW 300 billion (US$270.8 million) in annual sales. Park Seong-ho, an analyst at Yuanta Securities expects the casino to make KRW200 billion in casino sales in 2022, assuming Korea achieves herd immunity at the end of 2021, and the opening of the border between Korea and China in 2022.  (New Daily Biz)