Iao Kun Breaks Into Aussie Market

Macau junket operator Iao Kun Group has announced it will acquire all interests in a junket operation at the Crown Perth Casino and the Crown Melbourne Casino (l.). The company said it is also looking for more opportunities outside the Chinese gaming hub.

Macau-based junket operator Iao Kun Group Holding Company Ltd. has announced that it plans to acquire the junket interests of Lou Kan Kuong operating in two casinos in Australia.

According to Bloomberg News, the transaction, which will give Iao Kun access to operations at the Crown Perth Casino and the Crown Melbourne Casino, should close in mid-May.

“We are excited to take this first step toward expanding our operations and presence internationally, and beginning to diversify our sources of revenue,” said IKGH Chairman Man Pou Lam. “We are pleased to have the opportunity to establish ourselves in Australia and work with both the Crown Perth Casino and Crown Melbourne Casino to bring our VIP clients to their first-class facilities. Further, we remain committed to finding additional opportunities to expand our presence overseas and ultimately generating long-term value for our shareholders.”

The company has VIP rooms at five casinos in Macau.