VIP room operator Asia Entertainment & Resources Ltd. (AERL) has announced that it has received an additional HK$100 million (US$12.83 million) interest-free line of credit for its VIP room at the StarWorld.
Overall, the company now has total lines of credit for its VIP rooms of HK$430 million – HK$200 million each at the StarWorld and Galaxy Macau, and HK$30 million at the Venetian Macao. “Receiving an additional HK$100 million line of credit is further evidence of our success in increasing rolling chip turnover at our VIP rooms,” said AERL Chairman Lam Man Pou.
With the increase in cage capital from the new line of credit, AERL is reiterating its rolling chip turnover 2011 guidance for its three existing VIP rooms of US$1.7 billion per month and now expects to be at the higher-end of its 2011 non-GAAP income guidance of between US$70 million and US$77 million.