Iao Kun rolling chips tumble

Local junket operator Iao Kun saw its VIP rolling chip turnover plunge by three quarters in August compared to the same month in 2015, according to its announcement on Tuesday, Business Daily reports. Last month, the company’s rolling chip turnover generated by the Macau market amounted to US$110 million (MOP880 million), nosediving some US$330 million vis-a-vis US$440 million one year ago. Last week, the company announced it had closed one VIP room in Sands Cotai Central on August 31 as it is ‘undertaking a comprehensive strategic review of its VIP gaming room operations in Macau due to the ongoing challenging VIP gaming environment’.