• 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

Macau VIP investor Iao Kun reports 3Q loss

Dec 02, 2014 Newsdesk Industry Talk, Latest News, Macau  


Macau VIP investor Iao Kun reports 3Q loss

Macau junket investor Iao Kun Group Holding Co Ltd saw its share price on Nasdaq in New York fall 12.7 percent on Monday, the same day it announced a net loss of US$12 million for the third quarter ending September 30. The shares closed on Monday trading at US$1.72 per unit.

The firm’s net loss for the period amounted to US$0.20 per share, compared to net income of US$6.9 million, or US$0.11 per share fully diluted, in the equivalent period in 2013.

Iao Kun said the quarterly loss included a change in fair value on a US$7 million consideration related to the acquisition of three Macau VIP gambling rooms: King’s Gaming; Bao Li Gaming; and Oriental.

During the quarter, Iao Kun’s rolling chip turnover – a measure of overall volume of VIP business transacted – rose 5 percent year-on-year to US$4.3 billion, from US$4.1 billion in the year prior period. But revenue decreased by 15 percent year-on-year to US$51.9 million.

The company said this was due to factors including a “below statistical average” win rate of 2.53 percent and “the economic downturn and tightening of credit in mainland China, from where the majority of Iao Kun’s VIP gaming patrons reside”.

For the nine months ended September 30, Iao Kun’s rolling chip turnover was US$13.8 billion, an increase of 9 percent compared to the US$12.7 billion for the nine months ended September 30, 2013.

Net loss for the nine months of 2014 was US$65.8 million, or US$1.09 per share, compared to net income of US$10.9 million, or US$0.22 per fully diluted share, in the same period of 2013. The numbers for the nine months to September 30 included a “change in fair value of contingent consideration of US$62.7 million” related to the gaming room acquisitions, said Iao Kun.

The firm’s gaming promoter partners have operations in five VIP gaming rooms in Macau.


  • tweet
Related articles
  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPM
    Macau CNY mass GGR maybe 60pct plus of...

    Jan 31, 2023  

  • Macau January GGR maybe circa US$1bln: brokerage
    Macau January GGR maybe circa US$1bln:...

    Jan 17, 2023  

More news
  • Tak Chun execs knew illicit to settle proxy in Macau: trial
    Tak Chun execs knew illicit to settle...

    Jan 31, 2023  

  • Chinese comeback limited impact on Singapore IRs: bank
    Chinese comeback limited impact on...

    Jan 31, 2023  


Latest News

Tak Chun execs knew illicit to settle proxy in Macau: trial

Tak Chun execs knew illicit to settle proxy in Macau: trial

Jan 31, 2023  

A Tuesday Macau court session heard allegations of ‘proxy bets’ being facilitated overseas on behalf of customers of former casino junket brand Tak Chun Group, with bet settlement done via Macau,...
Read More
Chinese comeback limited impact on Singapore IRs: bank

Chinese comeback limited impact on Singapore IRs: bank

Jan 31, 2023  

IGSA names new chair, board members for 2023

IGSA names new chair, board members for 2023

Jan 31, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day


US$1.08 billion

Total income for 2022 reported by the Philippine Amusement and Gaming Corp



Most Popular

  • Available Macau casino tables busy at tail of CNY holsAvailable Macau casino tables busy at tail of CNY hols January 27, 2023
  • Almost half million visitors to Macau for 7 days of CNY holsAlmost half million visitors to Macau for 7 days of CNY hols January 30, 2023
  • Macau visitor momentum kept for post CNY weekendMacau visitor momentum kept for post CNY weekend January 30, 2023
  • Macau CNY mass GGR maybe 60pct plus of CNY 2019: JPMMacau CNY mass GGR maybe 60pct plus of CNY 2019: JPM January 31, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us