Brief: Iao Kun Group announces strategic Macau restructuring initiatives

Liniu Technology

02/09/2016 13:00

Sept 2 (Reuters) - Iao Kun Group Holding Co Ltd  IKGH.O : 
    * Iao Kun Group Holding Company Limited announces strategic 
Macau restructuring initiatives 
    * Closes VIP gaming room at Sands Cotai Central, expects to 
generate annual savings of US$750,000 
    * Says IKGH believes closure of facility will generate 
annual overall savings of approximately US$750,000 
    * May further close an additional 1-2 VIP gaming rooms in 
order to further optimize its operating earnings 
    * Expect to take further prudent actions that "we believe 
will be accretive to our earnings per share" 
    * Undertaking strategic review of its vip gaming room 
operations in Macau "due to ongoing challenging VIP gaming 
environment" 
 
Source text for Eikon:  ID:nBwv21nja  
Further company coverage:  IKGH.O  
 
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