Asian gamblers are heading to the subtropical South Korean island province of Jeju en masse, with a top casino operator raking in record-breaking quarterly profits.
Share prices in Lotte Tour Development soared by over 7% on May 14 after the operator announced all-time-high quarterly operating profits of almost $105 million. This marks a year-on-year 2.5x increase in profits for the company.
The surge in visitors to Jeju is attributed to the appeal of the island as a gambling destination, coupled with the casino operator's successful performance in the first quarter of the year.
