[이투데이/윤혜원 기자]
(Source = SK Securities)
On the 29th, SK Securities evaluated Lotte Tourism Development as seeing an upward trend in casino visitors and performance. The existing target price of 25,000 won and investment opinion of ‘buy’ were maintained.
Na Seung-du, a researcher at SK Securities, said, “Jeju Dream Tower Casino, which recorded monthly sales of more than 40 billion won for two consecutive months in July and August this year, broke the record by recording sales of 52.9 billion won in September.”
He continued, “This is an 86.3% increase compared to the same period last year, and as a result, cumulative net sales in the third quarter are expected to record 139.3 billion won.” He added, “It is also certain that quarterly net profit will be achieved following the second quarter.”
Researcher Na explained, “As of September, the cumulative number of foreign visitors to Jeju Island was 1.73 million, which is a 15.8% increase compared to the previous year. Visitors to Jeju Dream Tower Casino are also steadily increasing, from 30,000 at the beginning of the year to 60,000 in September.”
He also said, “It is noteworthy that the trends of foreign visitors and visitors to Jeju Dream Tower Casino are showing similar trends. Before COVID-19 and the Korean War, the number of foreign visitors to Jeju Island exceeded 400,000 per month, and currently it is around 200,000 per month.”
He added, “Compared to the casino industry, Lotte Tourism Development’s current market capitalization is assessed solely based on the casino business sector,” adding, “Considering that the Jeju Grand Hyatt Hotel OCC and ADR are both rising, there is ample room for additional growth.”
[이투데이/윤혜원 기자(hwyoon@etoday.co.kr)]
[관련기사]
☞ Korea Investment Corporation: “Samyang Foods, momentum for expansion to continue until 2027… solid demand, high profitability attractive”
☞ NH Investment & Securities “LS Eco Energy’s exports of ultra-high voltage cables to Europe are solid…target price ↑”
☞ [오늘의 투자전략] KOSPI, 4000p supply and demand battle expected…foreigners’ direction is key
☞ “Shin Sung ST will benefit from the expansion of LG Ensol’s North American ESS business.”
☞ Largest increase in private consumption in 3 years… Daeshin says, “Thanks to domestic demand, the growth rate in the third quarter is a ‘surprise’”
[주요뉴스]
☞ [속보] International oil prices fall… WTI 1.84%↓
☞ E-Today TV, the latest news video that only I didn’t know about
Etoday (www.etoday.co.kr), unauthorized reproduction, collection, and redistribution prohibited
