Iao Kun Q1 rolling chip turnover MOP38.33 bln

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Junket operator Iao Kun Group Holding Co Ltd’s rolling chip turnover was MOP38.33 billion in the first quarter of this year, 16 percent more than a year earlier.?The company says its first-quarter revenue rose by 24 percent to MOP638 million but that its net profit fell to MOP25.5 million from MOP55.8 million.?It attributed the fall in net profit mainly to a net increase in the contingent consideration liability for some VIP gaming rooms due primarily to an increase in the forecast rolling chip turnover performance based on past performance, and higher commissions resulting from a higher commission rate offered to non-credit agents and super agents.