Based on a recent filing with the Nasdaq Stock Exchange, Iao Kun, a junket company operating in Macau, has seen a decline in the year-on-year rolling chip turnover for September. Reports show that the operator had a 66% difference in chip turnover when comparing September 2014 to the same month in 2015.
During the first three quarters of 2015, the operator had a rolling chip turnover decrease of 62% to $5.20 billion which is an average of around .58 billion per month in US Dollars. During the same time frame in 2014, Iao Kun was able to earn $13.77 billion, averaging $1.53 billion each month.
The huge difference in rolling chip turnover can be attributed to the decline of VIP activity in Macau which has hurt the VIP baccarat industry of the area. Information provided by the Gaming Inspection and Co-ordination Bureau, the first half of 2015 saw a total revenue earning of $8.67 billion which is a loss of 42.2 percent considering the same time frame last year, a drop from $15.05 billion.
The VIP operator has gaming rooms at the Galaxy, Sands Cotai Central, StarWorld, Le Royal Arc and the City of Dreams. Iao Kun is also looking to enter the Australia marketplace with Perth and Melbourne offering trail operations.