Junket firm Iao Kun announces 2014 annual dividend

Junket firm Iao Kun announces 2014 annual dividend - 25th May 2015

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Nasdaq-listed Macau VIP gaming room investor Iao Kun Group Holding Co Ltd has declared an annual cash dividend of US$0.0169 per share.

The dividend will be payable on June 22, 2015, to those recorded as shareholders as of the close of business on June 5, 2015, the firm said on Friday.

The company had previously announced a total “semi-annual dividend” equal to 15 percent of the firm’s net income for the six months ended June 30, 2014.

For the whole of 2014, Iao Kun had a net loss of US$60.1 million, compared to net income of US$5.4 million for 2013.

Iao Kun is a mid-sized investor in Macau’s government-licensed VIP gaming promoters, also commonly known as ‘junket operators’. It benefits from the economic activity of five VIP rooms in several Macau casino resorts.

For the first four months of 2015, Iao Kun’s rolling chip turnover was US$2.70 billion, an average of US$0.68 billion per month, down 58 percent year-over-year.

The company on May 15 said it had completed a deal allowing it to expand its casino junket operations to Crown Perth Casino and to Crown Melbourne Casino, in Australia.

(GGR Asia)