Foreign Tourists Fuel Casino Recovery; Lotte Tour Development Set for Strong Growth
Creatrip Team
4 months ago
IBK Securities named Lotte Tour Development its top pick among South Korea’s casino operators, citing a rebound in foreign tourists and the company’s VIP-focused strategy at its Jeju Dream Tower resort. The broker set a target price of 32,000 KRW, implying about 71% upside from the current level, and forecasts 2026 revenue of 742.1 billion KRW and operating profit of 186.7 billion KRW (growth of 15% and 33.9% from this year). Analysts expect VIP gaming and a 1,600-room hotel to drive profits from 2025, with foreign-only casino visitors rising from 2.94 million in 2024 to 3.95 million in 2029 (CAGR 6.1%). Lower financing costs after 2026 could further boost earnings. (Jeju Dream Tower: a major integrated resort in Jeju Island.)
