Iao Kun November rolling chip volume plummets 30 percent

Iao Kun Group Holding Company Limited, which operates VIP room gaming promoters in Macau, said its November rolling chip turnover dropped 30 percent to US$1.05 billion from the year earlier.
The win rate for the month was 3.66 percent.
For the first eleven months of 2014, IKGH’s rolling chip turnover was $15.89 billion, or an average of $1.44 billion per month, up just 1 percent on a comparable basis.
Earlier this week, the company reported that it swung to a loss in Q3, but the result still beat most analysts’ expectations.
The company said its non-GAAP loss was $0.02 per share compared to a profit of $0.16 a year earlier. Analysts polled by Capital IQ had expected a loss of $0.11 per share. Revenue fell 15 percent to $51.9 million, missing the $56.8 million consensus estimate.
Rolling chip turnover rose 5 percent in the quarter to $4.3 billion. But the company cut its 2014 rolling chip guidance to between $16.8 billion and $17.5 billion from the previous guidance between $17 billion and $19 billion.
Industry wide, gross gambling revenue dropped 19.6 percent in the month in the sixth consecutive monthly decline.