Macau casino junket promoter Iao Kun Group Holding Co Ltd says it will pay an interim dividend of US$0.026 per share on October 14. The record date for the 2014 six-month dividend will be October 3, the company said in a statement on Monday.
Nasdaq-listed Iao Kun said last month that the board of directors had approved a regular dividend each year after the release of the company’s financial results for the six months ending June 30. The interim divided this year was reduced from US$0.08 per share paid a year earlier.
The company promotes five VIP rooms in Macau.
Iao Kun recently reported a year-on-year 22-percent drop in revenue, to US$49.7 million, for the three months to June 30. The company said the decrease was due to a win rate of 2.18 percent for the period, below the expected range of 2.7 percent to 3.0 percent.
Since then the win rate has improved. Iao Kun’s win rate for August was 2.50 percent.
Total rolling chip turnover – a metric used by casinos to measure the aggregate amount of player bets and overall volume of VIP gaming room business – for August was US$1.53 billion, the firm said in a statement earlier this month.
Mar 18, 2019Sociedade de Jogos de Macau SA (SJM) – the Macau-registered unit that holds the gaming rights for SJM Holdings Ltd – announced on Monday a pay rise of between “2.5 percent and 8.3 percent”...
Mar 18, 2019
Mar 18, 2019
"When the gaming concessions expire, the Macau government is inclined to launch a public tender [for new gaming rights]"
Lionel Leong Vai Tac
Macau Secretary for Economy and Finance