Macau VIP room promoter Asia Entertainment & Resources Ltd plans to pursue a dual listing of its shares on the Hong Kong Stock Exchange.
Currently traded on the NasdaqGM board as AERL, the company said it will file a formal listing application with the HKSE in the first half of 2013.
AERL operates as a holding company for various subsidiaries and agents that run four high-stakes baccarat rooms in the Chinese casino enclave, one on the Macau peninsula at StarWorld Hotel & Casino, and three on Cotai, at Galaxy Macau, The Venetian and City of Dreams.
The gaming volume in the four rooms, expressed as rolling chip turnover, was down 26% in November to US$1.26 billion, AERL reported. In the first 11 months, the company’s roll is down 7.4% compared with the same period last year. The total through November is $16.83 billion, an average of $1.53 billion a month.
AERL attributed the declines to its decision to tighten credit to agents in response to the slowing economy in China.
Macau’s total gross gaming revenue was up 8% in November—although VIP revenue growth for the month is believed to be negative—and up 13% through the first 11 months of the year.
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