Iao Kun Group August VIP turnover gains 3 percent

    Iao Kun Group Holding, which operates VIP gaming rooms, said VIP rolling chip turnover in Macau rose 3 percent year over year to $1.53 billion.The win rate for the month of August 2014 was 2.50 percent.For the first eight months of 2014, IKGH’s rolling chip turnover was $12.56 billion, up 9 percent year over year.The company’s VIP rooms are primarily focused on high stakes baccarat. As of September 1, 2012, all IKGH VIP rooms are on a revenue sharing remuneration model.Iao Kun’s August figures come against a backdrop of a 6.1 percent drop in gross gambling revenue for August as a whole, the third consecutive monthly fall. Analysts say the fall was most likely due to a drop of about 17 percent in VIP revenue.