Wednesday, August 10, 2022

Iao Kun December rolling chip volume crashes 48 percent


Iao Kun Group Holding, which operates junkets in Macau, said its rolling chip turnover for December slumped 48 percent to $0.71 billion from $1.36 billion in the same month last year.

The group said the win rate for the month was 4.56 percent.

For 2014, IKGH's Rolling Chip Turnover was $16.60 billion (an average of $1.38 billion per month), down 3 percent year-over-year, compared to $17.04 billion in 2013.

Overall, Macau gross gambling revenue fell 30 percent in December, taking the territory to the first annual decline in revenue since records began in their current form in 2002.

A crackdown on corruption on mainland China has hit the VIP market, with high rollers concerned about appearing on the radar of authorities in Beijing. A visit by China’s President Xi Jinping in December helped to further dampen activity.

 

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