Lotte Tour Development said in a filing on the 5th that its preliminary third-quarter results came to sales of 186.7 billion won and operating profit of 52.9 billion won. Compared with a year earlier, sales rose 34.2% and operating profit increased 138.9%. Both sales and operating profit hit all-time highs.
Lotte Tour Development said, "Powered by explosive sales growth, the operating leverage effect is being maximized as most casino revenue beyond the break-even point converts into profit."
Net sales in the casino segment in the third quarter (the amount after deducting agent commissions and other items from gross sales) were 139.3 billion won, up 65.4% from a year earlier. Cumulative sales for the first to third quarters this year were 333.9 billion won, surpassing last year's full-year results (294.3 billion won).
The number of casino visitors in the third quarter was 172,783, and the drop amount (the amount customers exchanged for chips to play) was 848.5 billion won, both hitting all-time highs.
The hotel segment posted sales of 46.2 billion won, and the travel segment posted sales of 22.0 billion won.