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Iao Kun Group Holding Company Limited announces rolling chip turnover of USD 0.54B for June 2015

Iao Kun Group Holding Company Limited announces rolling chip turnover of USD 0.54B for June 2015
Iao Kun Group Holding Company Limited has announced unaudited Rolling Chip Turnover for the month of June 2015 at the company’s VIP rooms in Macau was USD 0.54B, down 60% year-over-year, compared to USD 1.35B for the month of June 2014.
Macau | 07/07/2015

Iao Kun Group Holding Company Limited has announced unaudited Rolling Chip Turnover for the month of June 2015 at the company’s VIP rooms in Macau was USD 0.54B, down 60% year-over-year, compared to USD 1.35B for the month of June 2014.

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or the first six months of 2015, IKGH’s Rolling Chip Turnover was US$3.92 billion (an average of $0.65 billion per month), down 58 percent year-over-year, compared to US$9.43 billion (an average of $1.57 billion per month) for the first six months of 2014.

The Company’s VIP rooms are primarily focused on high-stakes baccarat. Baccarat accounts for approximately 88 percent of total Macau casino winnings according to the Macau Gaming Inspection and Coordination Bureau (DICJ). In Macau, two remuneration methods are used to compensate VIP room gaming promoters. On a fixed commission basis, VIP room gaming promoter revenues are based on an agreed percentage of Rolling Chip Turnover. On a win/loss split basis, the VIP room gaming promoter receives an agreed percentage of the “win” in the VIP gaming room (plus certain incentive allowances), and is required to also bear the same percentage of losses that might be incurred. Compared to the fixed commission basis, the win/loss split basis subjects the VIP room gaming promoter to the risk of losses from the gaming patron’s activity and to greater volatility.

As of September 1, 2012, all IKGH VIP rooms are on a revenue sharing remuneration model.

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