Iao Kun re-applies for Hong Kong listing

Iao Kun Holding has re-applied to list its shares on the Hong Kong Stock Exchange after its attempt to do so last year lapsed, according to local media.
The Nasdaq-listed VIP gaming promoter is being sponsored by Rothschild.
The group has said it wants to be listed in Hong Kong to gain exposure to a broader shareholder base. However, Melco Crown Entertainment recently said it was giving up its Hong Kong listing because of the time and costs involved in complying with regulations.
Iao Kun is currently engaged in VIP gaming rooms in five sites in Macau: StarWorld Hotel and Casino, Galaxy Macau Resort ; City of Dreams Macau ; Sands Cotai Central and L’Arc.
In December, Iao Kun said its rolling chip turnover slumped 48 percent to $0.71 billion from $1.36 billion in the same month last year. The group said the win rate for the month was 4.56 percent.
For 2014, Rolling Chip Turnover was $16.60 billion (an average of $1.38 billion per month), down 3 percent year-over-year, compared to $17.04 billion in 2013.