• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Iao Kun’s rolling chip turnover down 44 pct in July

Aug 04, 2016 Newsdesk Latest News, Macau, Top of the deck  


Iao Kun’s rolling chip turnover down 44 pct in July

Macau VIP gambling room investor Iao Kun Group Holding Co Ltd said on Wednesday that its rolling chip turnover in Macau for July fell 44 percent year-on-year to US$250 million, from US$440 million in the prior-year period.

Its win rate for the month of July was 3.20 percent, the Nasdaq-listed firm added.

For the first seven months of 2016, Iao Kun’s rolling chip turnover was US$2.30 billion – an average of US$330 million per month – down 47 percent year-on-year. During the same period in 2015, the firm recorded aggregate roll of US$4.36 billion, an average of US$620 million per month.

The Macau government on Monday announced that city wide in July, gross gaming revenue for the mass market and VIP segments combined had fallen by 4.5 percent year-on-year.

Iao Kun’s business partners promote five high roller facilities in Macau casinos. In May 2015, Iao Kun announced completion of a deal allowing the firm to expand its casino junket operations to Crown Perth Casino and to Crown Melbourne Casino, in Australia.

Nasdaq-listed Iao Kun is in the process of acquiring the Jeju Sun Hotel and Casino on Jeju Island, in South Korea. The firm said that the acquisition was the “optimal way” to diversify its business outside of Macau.

Iao Kun is buying the Jeju property from Philippines casino operator Bloomberry Resorts Corp for a total consideration of KRW117.5 billion (US$105.4 million).

Lam Man Pou, chairman of Iao Kun, had said in a statement that the company was seeking to expand its footprint in Asia, in order to “further diversify and stabilise” the firm’s revenue streams and cash flows.


  • tweet
Related articles
  • Gaming veteran chairman exits junket investor Rich Goldman
    Gaming veteran chairman exits junket...

    Jan 14, 2022  

  • Grand Korea Leisure July casino sales halved m-o-m
    Grand Korea Leisure July casino sales...

    Aug 05, 2021  

More news
  • Microchip lack felt by slot makers says MGEMA boss Chun
    Microchip lack felt by slot makers says...

    Aug 05, 2022  

  • MGM China interim net loss widens to US$306mln
    MGM China interim net loss widens to...

    Aug 05, 2022  


Latest News

Microchip lack felt by slot makers says MGEMA boss Chun

Microchip lack felt by slot makers says MGEMA boss Chun

Aug 05, 2022  

A global shortage of computing microchips is currently the biggest challenge for gaming machine manufacturers, says businessman Jay Chun (pictured in a file photo), president of the Macau Gaming...
Read More
MGM China interim net loss widens to US$306mln

MGM China interim net loss widens to US$306mln

Aug 05, 2022  

Sands China US$1.95bln notes exchange deadline now Mon

Sands China US$1.95bln notes exchange deadline now Mon

Aug 05, 2022  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$57.4 million

Revenue produced by Konami Holdings' gaming and systems division – including casino equipment – in the three months to June 30



Most Popular

  • Japanese get visa-free S.Korea entry for August: reportJapanese get visa-free S.Korea entry for August: report August 4, 2022
  • Ex Macau staffer named an EVP on Wynn’s UAE schemeEx Macau staffer named an EVP on Wynn’s UAE scheme August 4, 2022
  • MGM brand to help Macau get foreign biz: MGM China COOMGM brand to help Macau get foreign biz: MGM China COO August 4, 2022
  • Progress in Philippine gaming AML rules: regional watchdogProgress in Philippine gaming AML rules: regional watchdog August 5, 2022
  • Sands China US$1.95bln notes exchange deadline now MonSands China US$1.95bln notes exchange deadline now Mon August 5, 2022
Copyright 2014-2022 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us