[Infostock Daily= Reporter An Hoe Hyun] Kiwoom Securities presented its target stock price at KRW 26,000, predicting that LOTTE Tour Development will achieve the highest performance improvement in 'Post COVID-19'.
Jeju Dream Tower Resort, operated by LOTTE Tour Development, has casinos and Asia's largest Grand Hyatt Hotel. Sales are expected to reach 374.6 billion won and operating profit of 51.1 billion won this year. The hotel division's sales are expected to be 250 billion won and casino sales of 99 billion won, which will have the effect of opening a casino complex resort.
The Jeju Dream Tower, which began construction in 2016 and completed in 2020, is expected to apply for the expansion and relocation of the casino and grow into an Asian landmark casino complex resort after the grand opening. Analysts say that mid- to long-term performance can be improved in consideration of limited entry into the domestic foreigner casino market, the non-casino sector centered on hotels from the beginning of its opening and the growth potential of casino sector after the resumption of global travel.
Reporter An Hoe Hyun ahh@infostock.co.kr
