Iao Kun Group Holding terminates lender guarantee obligation

    Iao Kun Group Holding, which operates VIP gaming rooms, said it has ended the obligation of two lenders to guarantee a loan agreement, dating back to February 2010.
    The lenders are Lam Man Pou and Vong Hon Kun, each an executive officer and a director of the company.
    “The parties agreed to terminate the guaranty obligations for the reasons of the company’s financial independence and to minimize reliance on the lenders, which conform with the listing standards in Hong Kong,” the company said in a Hong Kong Stock Exchange filing.