Galaxy Entertainment says it booted Iao Kun junket from its properties

Macau casino operator Galaxy Entertainment Group (GEG) says it booted junket investor Iao Kun Group Holdings (IKGH) from its properties, contradicting IKGH’s claim to have voluntarily closed two VIP gaming rooms.

This week, IKGH announced that it had closed VIP rooms at GEG’s Galaxy Macau and StarWorld properties based on its ongoing strategic review of its Macau operations. On Thursday, GEG issued a statement calling bullshit on IKGH’s claims, saying it needed to “put the record straight.”

According to GEG, it was the one who “terminated the promoter agreements with Iao Kun and closed” the two VIP rooms “as a result of Iao Kun’s breach of the agreements made with us.”

GEG offered no specifics on the nature of IKGH’s breach of contract but did say that it intends to “pursue vigorously against Iao Kun … by taking legal action against it and its relevant directors and/or officers.”