VIP operator’s net income more than doubles in Macau
AERL chairman Lam Man Pou noted that the company’s 103 % year-over-year revenue growth exceeded the overall growth in Macau of 43 % according to the Gaming Inspection and Coordination Bureau. “We expect strong organic growth to continue going forward and are very excited about opening our latest VIP room at Galaxy Macau in Cotai,” he said.
The company’s rolling chip turnover in Macau year-to-date through April is us$ 5.540 billion, an increase of 125 % year-over-year. “We are forecasting continued double-digit growth in rolling chip turnover for 2011. We are reiterating rolling chip turnover guidance for our three existing VIP rooms in Macau of us$ 1.3 billion per month, which equates to a total of us$ 15.6 billion for full year 2011, up from us$ 10.4 billion in 2010,” Lam said.
AERL currently operates VIP rooms at StarWorld, MGM Macau and the Venetian Macao. The company also has an agreement to operate a VIP room at Galaxy Macau, to open next Sunday.
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