Iao Kun rolling chip turnover down 71 percent in April

Junket operator Iao Kun Group Holding announced a 71 percent year-on-year drop in rolling chip turnover at its VIP rooms in Macau in April.

The company raked in $0.50 billion, compared to $1.72 billion in April, with a win rate of 3.48 percent.

For the first four months of the year, IKGH's rolling chip turnover -  which is used by casinos to measure the volume of VIP business transacted - came to $2.70 billion, an average of $0.68 billion per month and down 58 percent year-on-year. In the first four months of 2014, rolling chip turnover came to $6.49 billion - an average of $1.62 billion per month.

The company's VIP rooms are primarily focused on high stakes baccarat, a game that accounts for approximately 88 percent of total Macau casino winnings according to the Macau Gaming Inspection and Coordination Bureau (DICJ).
All IKGH VIP rooms are based on a revenue sharing remuneration model. 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.