Iao Kun Group Holding Company Limited restated earnings results for the second quarter and six months ended June 30, 2016. As a result of the revision, net loss for the second quarter of 2016 is now reported to be $125.8 million, or $1.99 net loss per basic and diluted share, compared to net loss of $23.8 million, or $0.38 net loss per basic and diluted share, for the same period of 2015. The net loss in the second quarter of 2016 also includes a one-time $97.3 million impairment of intangible assets, while during the second quarter of 2015, IKGH incurred a one-time $17.8 million impairment of goodwill. Previously, net loss for the second quarter of 2016 was reported to be $104.4 million, or $1.65 net loss per basic and diluted share. Operating loss attributable to ordinary shareholders before change in fair value of contingent consideration was $125,820,294 against $24,048,917 a year ago.

For the six months, net loss for the six months ended June 30, 2016 is now reported to be $129.3 million, or $2.05 net loss per basic and diluted share, compared to net loss of $6.7 million, or $0.11 net loss per basic and diluted share, for the same period of 2015. Previously, net loss for the six months ended June 30, 2016 was reported to be $107.9 million, or $1.71 net loss per basic and diluted share. Operating loss attributable to ordinary shareholders before change in fair value of contingent consideration was $129,315,847 against $20,048,116 a year ago.

For the quarter, the company announced impairment of intangible assets of $97,279,5170.