Iao Kun May rolling chip volume plunges 57 percent

Iao Kun Group Holding, which operates VIP room gaming promoters, in Macau, said May rolling chip volume plunged 57 percent.

Unaudited rolling chip turnover was $0.68 billion compared to $1.59 billion in the same month a year ago. The win rate for the month of May 2015 was 1.86 percent.

For the first five months of 2015, Iao Kun’s rolling chip turnover was $3.38 billion, down 58 percent year-over-year.

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).

The regulator reported on Monday that overall gross gambling revenue in Macau fell for the 12th straight month in May, posting a 37.1 percent decline.
 

The monthly drop in Iao Kun’s VIP rolling chip volume outstrips the estimated decline in VIP revenue as a whole for the month, according to UBS. The firm estimated mass revenue in May dropped 23 percent YoY, and VIP revenue dropped 46 percent YoY