Lotte Tour Development is set to officially launch the new casino situated at Jeju Dream Tower in June.
As reported by local media outlets, all inspections of the gaming equipment used at the Dream Tower Casino by the company have already been completed. Furthermore, the CCTV processing is in the final stages before getting the necessary approval, while the staff members from the service and marketing teams have been put in place, too.
An official opening in June is set to mark six months since the Jeju Dream Tower became accessible for customers. The 5-star Grand Hyatt Jeju hotel, restaurants and retail outlets were the first ones to welcome their guests on December 18th, 2020, and now it is the casino that will start operation.
In February 2021, LT Entertainment Co Ltd, which is the wholly-owned subsidiary of Lotte Tour Development, filed an application to relocate the casino venue from its previous location at Lotte Hotel Jeju to the new integrated resort worth $1.4 billion. As a result of the planned relocation, the current gaming space of the company will be expanded by almost five times to over 5,000 square meters, and the 5 gaming tables and 51 gaming machines will rise to 150 tables and 300 machines, respectively.
The new casino at the Jeju Dream Tower will become the third biggest casino venue by floor space of South Korea’s 16 foreigner-only casinos, behind Incheon-based Paradise City and Jeju Shinhwa World-based Landing Casino.
Jeju Dream Tower to Host the Third-Largest Casino by Floor Space in South Korea
With the coronavirus outbreak resulting in border closures and international travel restrictions, the country’s foreigner-only casino market faced some difficulties last year. Still, some analysts projected that the new casino at the Jeju Dream Tower could generate sales of over KRW 200 billion in 2022. If that happens, its sales would be bigger than the ones expected to be seen at Paradise City and the GKL.
The 169-meter Jeju Dream Tower is currently the tallest building in Jeju, with its 38 floors. It already hosts 14 restaurants and bars, a retail mall, a hotel, a top floor skydeck with a lounge, two spas and an outdoor pool deck.
The long-awaited relocation of Lotte Tour Development’s casino operations to the Jeju Dream Tower was first expected to be finalized by the company in May after the Jeju Provincial Government gave it the necessary approval at the beginning of April. The approval was officially received by the company more than two months after LT Entertainment Co Ltd filed the application for casino relocation from the venue’s current site at Lotte Hotel Jeju to the luxurious new Tower where hotel and non-gaming options became available in December 2020.
The above-mentioned non-gaming attractions were opened in December about 40 years after the 75-acre site where the massive construction is situated was first purchased by Dongwha Investment and Development Co Ltd in 1980. Excavation works started in 1984 but were ceased because of a lack of funding. Eventually, the Tower project was renewed in 2008, with construction works resuming in May 2016 after some changes were brought into the design.