VIP junket operator leaves Sands Cotai Central

The VIP junket operator reported a 47 percent drop year-on-year in company-wide rolling chip volumes.

Iao Kun Group Holding Company Limited, a notorious VIP junket operator, has closed its high-roller operations at Sands Cotai Central.

Macau.- VIP junket operator Iao Kun Group Holding Company Limited has closed its high-roller operations at Sands Cotai Central after posting a a 47% drop year-on-year in company-wide rolling chip volumes for the first seven months of 2016 to €2.06 billion.

The firm, which operated at the Sands Cotai Central stated that it took the decision “as the current rolling chip turnover volume does not warrant the operation of five VIP gaming rooms” in Macau and that it now expected to generate savings of around €672,800 a year.

Iao Kun Group Holding Company Limited also revealed that it will continue to operate high-roller VIP rooms at the StarWorld Casino And Hotel Resort, the Galaxy Macau Casino, the City Of Dreams Macau and the Casino Le Royal Arc although it may close “an additional one or two VIP gaming rooms in order to further optimize operating earnings” following the completion of a “strategic review” of its business.