Iao Kun Group Holding Co Ltd is a Nasdaq listed Macau VIP casino investor. On May 6, 2015 they announced an unaudited rolling chip turnover loss. Rolling chip turnover is a measure casinos use to determine the “aggregate amount of player bets” as well as overall volume of VIP rooms. The results show a turnover of USD $.5 billion for last month, which is 71% lower than in 2014 and a 34% drop from March.
The win rate was 3.48% for April, with quarterly win rates ranging from 2.2% to 4% starting from 2011 to 2014. Iao Kun did not provide a reason for the lower percentages; however, Iao Kun does benefit from economic activity in five VIP rooms located in Macau casinos. It may be due to the crack down on junket operators.
Last month the company announced that they had inked a non-binding memorandum of understanding with Crown Perth and Crown Melbourne Casinos to provide VIP players to the Australian casino.
On May 1, Iao Kun announced a near total turnover of top management with replacements for their CEO, COO, and CFO.