GGRAsia – Iao Kun rolling chip slumps 37 pct in January

Iao Kun rolling chip slumps 37 pct in January

Feb 04, 2015 Newsdesk Latest News, Macau, Top of the deck

Nasdaq-listed junket operator Iao Kun Group Holding Co Ltd announced unaudited rolling chip turnover of US$0.81 billion for January, down by 37 percent from a year earlier but up 14 percent from the previous month.

Its win rate for January 2015 was 3.76 percent, the firm said in a statement on Wednesday.

Rolling chip turnover is a measure used by casinos to judge the aggregate amount of player bets and overall volume of VIP gaming room business.

The company promotes five VIP rooms in Macau, including rooms at Galaxy Macau, City of Dreams Macau and Sands Cotai Central. As of September 2012, all of Iao Kun’s VIP rooms are on a revenue sharing remuneration model.

Iao Kun said rolling chip turnover showed a decline of 3 percent in 2014 from a year earlier.

The Macau market as a whole has registered year-on-year declines in gross gaming revenue (GGR) since June – driven mainly by a decline in VIP play.

Casino GGR fell 17.4 percent year-on-year in January, to MOP23.75 billion (US$2.97 billion), extending to eight months the losing streak in Macau revenue.