Iao Kun VIP chip turnover up 2 pct in June

Jul 04, 2014 Newsdesk Latest News, Macau  

---

Nasdaq-listed Macau casino junket promoter Iao Kun Group Holding Company Ltd – which on June 26 said it had formally applied for a dual listing in Hong Kong – has announced rolling chip turnover for June up 2 percent year-on-year, at US$1.35 billion.

Union Gaming Research Macau Ltd said in a note on Tuesday that market-wide in Macau, VIP revenue – a different measure for the high roller segment – was down approximately 20 percent in June.

Iao Kun stated on Thursday that for the first six months of 2014, the group’s rolling chip turnover from VIP operations was US$9.43 billion – an average of US$1.57 billion per month – up 10 percent year-on-year, compared to US$8.54 billion for the first six months of 2013.

Since September 1, 2012, all Iao Kun VIP rooms have been on a revenue sharing remuneration model, the company reiterated in its latest results statement.

Iao Kun’s VIP room gaming promoters currently operate in five VIP rooms in Macau.

---

---