Iao Kun’s rolling chip slumps 30 pct in November

Dec 04, 2014 Newsdesk Industry Talk, Latest News, Macau  

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Nasdaq-listed junket operator Iao Kun Group Holding Co Ltd announced an unaudited rolling chip turnover decline of 30 percent in year-on-year terms for November.

Rolling chip turnover – a measure used by casinos to judge the aggregate amount of player bets and overall volume of VIP gaming room business – for the month was US$1.05 billion, the firm said in a statement on Wednesday.

Win rate for the month of November was 3.66 percent, it added.

The company promotes five VIP rooms in Macau. As of September 2012, all of Iao Kun’s VIP rooms are on a revenue sharing remuneration model.

Casino gross gaming revenue fell 19.6 percent year-on-year in November, to MOP24.27 billion (US$3.04 billion) compared to MOP30.18 billion in the year-prior period.

The Macau market as a whole registered year-on-year declines since June.

Iao Kun’s rolling chip turnover for the first 11 months of 2014 was US$15.89 billion, an average of US$1.44 billion per month, and up by 1 percent in year-on-year terms, the firm said.

The company earlier this week reported a 15-percent drop year-on-year in revenue, to US$51.9 million, for the three months to September 30.

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