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Jeju’s casino industry fill in gap left by Macau
Jeju’s casinos are filling in the gap created after Macau’s shrinking presence in the industry, following China’s blockade of the city to fend off COVID-19.
Lotte Tour Development Co. will bring its VIP casino customers from Singapore to visit its Dream Tower Casino, just in time for Singapore’s biggest holiday season in August.
The operator of the Jeju Dream Tower Resort, Lotte Tour Development anticipates that the influx of Southeast Asian visitors who are interested in lodging, dining, shopping, and visiting casinos would help drive up overall resort sales.
In line with Macau's declining market share, Lotte Tour Development is making strong moves to establish its position in the casino sector.
Earlier, another Jeju casino operator, Dream Tower Casino, signed a contract with nine agencies registered in Singapore and Malaysia.
Macau has seen its casino industry sales shrink by a whopping 95 percent following China’s rigorous zero-COVID-19 policy, setting an all-time low record ever since statistics were made available in 2009.
An official at Jeju Shinhwa World, one of South Korea’s largest integrated resorts, said it is too early for them to say that Jeju may become the ‘second Macau, but there is the need to build a new market that goes beyond China.
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