South Korea's Casinos Outperformed Macau in June as Foreign Visitors Hit 1.95M, Up 19% Year-on-Year

According to official data, South Korea attracted 1.95 million foreign tourists in May, up 19% year-on-year, with cumulative arrivals reaching 8.72 million through May, up 21%. Japanese and Chinese visitors led growth, increasing 21% and 25% respectively.

Korean casino operators benefited from the tourism surge. Lotte Tour Development's June casino drop reached 266.2 billion won, up 10% year-on-year, with revenue at 48.7 billion won, up 36%. Q2 results were stronger, with drop at 760.6 billion won, up 14%, and revenue at 147.1 billion won, up 34%. GKL posted June drop of 327.8 billion won, up 9%, and Q2 drop of 1 trillion won, up 15%. By contrast, Macau casino revenue fell 12% in June after modest growth in prior months.