Junket Iao Kun posts 7-pct jump in rolling chip for July

Aug 05, 2014 Newsdesk Latest News, Macau, Top of the deck  

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Nasdaq-listed Macau casino junket promoter Iao Kun Group Holding Company Ltd posted rolling chip turnover of US$1.60 billion for July, up 7 percent in year-on-year terms. The win rate for the month was 2.32 percent, the company said in a statement issued on Monday.

Market-wide,  casino gross gaming revenue in Macau dropped 3.6 percent in July from one year before, the city’s gaming regulator announced last week. Several analysts blamed the decrease on a decline in VIP play.

For the first seven months of 2014, Iao Kun’s rolling chip turnover was US$11.03 billion, an average of US$1.58 billion per month and up 10 percent in year-on-year terms, the company said.

Iao Kun operates five VIP rooms in Macau, located at StarWorld, Galaxy Macau, Sands Cotai Central, City of Dreams and Le Royal Arc.

The company in June made a formal application to list in Hong Kong.

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