November 3, 2015
For the first ten months of 2015, IKGH's Rolling Chip Turnover was
The Company's VIP rooms are primarily focused on high stakes baccarat.
Baccarat accounts for approximately 88% of total
As of
Definition of Rolling Chip Turnover
Rolling Chip Turnover is used by casinos to measure the volume of VIP business transacted and represents the aggregate amount of non-negotiable chips players purchased. Bets are wagered with 'non-negotiable chips' and winning bets are paid out by casinos in so-called 'cash' chips. 'Non-negotiable chips' are specifically designed for VIP players to allow casinos to calculate the commission payable to VIP room gaming promoters. Commissions are paid based on the total amount of 'non-negotiable chips' purchased by each player. VIP room gaming promoters therefore require the players to 'roll,' from time to time, their 'cash chips' into 'non-negotiable' chips for further betting (hence the term 'Rolling Chip Turnover'). Through the promoters, 'non-negotiable chips' can be converted back into cash at any time. Betting using rolling chips, as opposed to using cash chips, is also used by the DICJ to distinguish between VIP table revenue and mass market table revenue.
All IKGH VIP rooms are on a revenue sharing remuneration model. On a win/loss split basis, the VIP room gaming promoter receives an agreed percentage of the 'win' in the VIP gaming room (plus certain incentive allowances), and is required to also bear the same percentage of losses that might be incurred.
About
IKGH is a holding company which operates through its subsidiaries and
related promotion entities that act as VIP room gaming promoters and a
collaborator, and is entitled to receive all of the profits of the VIP
gaming promoters and a collaborator from VIP gaming rooms. IKGH's VIP
room gaming promoters and collaborator currently participate in the
promotion of five major luxury VIP gaming facilities in Macau, China,
the largest gaming market in the world. One VIP gaming room is located
at the top-tier 5-star hotel, the StarWorld Hotel & Casino in
downtown Macau, and another is located in the luxury 5-star hotel, the
Galaxy Macau™ Resort in Cotai, each of which is operated by Galaxy
Casino, S.A. Additional VIP gaming rooms are located at the Sands Cotai
Central and City of Dreams Macau, both in Cotai, and Le Royal Arc
Casino, located in NAPE, Downtown Macau. IKGH recently started trial
operations to the Australian casinos (
View source version on businesswire.com : http://www.businesswire.com/news/home/20151103005643/en/
preissj@ikghcl.com
Source:
News Provided by Acquire Media
Close window | Back to top
distributed by |