GGRAsia – Iao Kun to pay interim dividend on Oct 19

Iao Kun to pay interim dividend on Oct 19

Sep 23, 2015 Newsdesk Industry Talk, Latest News, Macau

VIP gambling room investor Iao Kun Group Holding Co Ltd announced on Tuesday that it would pay its six month dividend on October 19. It will be available to shareholders whose names appear on the records of the company as of October 7, the firm said in a statement.

Iao Kun said last month the six month dividend payable for 2015 would be approximately US$0.014 per share, a reduction of US$0.012 per share from the prior-year period.

The company – via its business partners – promotes five high-roller facilities in Macau casinos. The firm has also started trial operations at Crown Perth Casino and at Crown Melbourne Casino, in Australia, two venues operated by Crown Resorts Ltd.

In August, Nasdaq-listed Iao Kun Group reported a net loss of US$23.8 million for the second quarter of 2015, compared to a net loss of US$56.7 million for the same period of 2014.

For the first eight months of 2015, Iao Kun’s unaudited rolling chip turnover fell 62 percent compared to the year-earlier period to US$4.80 billion.

The company has adjusted its 2015 rolling chip turnover guidance to between US$6.0 billion and US$7.0 billion, from a previous range of US$7.0 billion and US$8.5 billion.