MACAU BUSINESS By José Carlos Matias in Singapore
By Paolo A. Azevedo
Jeju – the new Singapore
Seizing the
acau Business – From Lotte World, a major recreational complex [with the world’s largest indoor theme park, in Seoul] to an integrated resort with casino in Jeju. A different beast. A
natural evolution? Lawrence Teo – Business is the same. But building
18 OCTOBER 2017
Industry players hailed Asia’s strong post-pandemic rebound of the gaming industry at the day Global Gaming Expo Asia (G2E Asia) Singapore Special Edition. Beyond the expected pent-up demand, the casino industry is witnessing what experts see as a sustained growth path.
a landmark. M. B. – The group [Lotte] has created other landmarks in different types of business. Why would this be different? L. T. – Yes, Lotte Group has already created
downtown Seoul and Lotte Super Tower. We’re trying I 16 JULY 2023
t was the first G2E Asia expo and conference effectively post-COVID, as Macau lifted pandemic-related restrictions in early 2023, paving the way for a swift and sound rebound that restored the SAR’s status not only as the top casino jurisdiction in Asia but also
surpassing the whole state of Nevada in the United States. For the second year in a row, the G2E Asia expo, which had Macau as its home between 2007 and 2019, was held
M momentum
in Singapore in a Special Edition organized by Reed Exhibitions (RX) and presented by the American Gaming Association (AGA). While in the previous edition – August 2022 - the
headlines on Macau were centered around the Zero-COVID restrictions and its strong impact on the city’s core industry and impact, this year the SAR’s vigorous comeback took center stage in the talks and
Jeju will be as big as Singapore in terms of Gross Gaming Revenue, predicts Lawrence Teo. The Chief Operations Officer and Vice President of Dream Tower, the tallest Integrated Resort under construction on the Korean destination island, explains to Macau Business why Lotte Tour decided to enter the casino business and create a landmark. All bets are on making the casino resort the crown of the tourism jewel the company has been dominating for four decades
to do the Dream Tower in Jeju. Lotte here is being just a family company; we’re a different company [Lotte Tour]. It’s not going to be [just] the tallest and the largest building in Jeju, that’s just the hardware. We say that a landmark should be the most visited destination, where tourists will go to eat, shop and maybe [visit] our observation deck. A must-visit point destination. Because of the hardware, and also the software.
M. B. – What are the main goals that you definitely
want to achieve with this Integrated Resort (IR)? L. T. – Number one EBIDTA on IR in Korea. There’s
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