- Rolling Chip Turnover for the three months ended June 30, 2012 in the Company’s VIP gaming rooms was $4.7 billion, up 8% year-over-year, compared to $4.3 billion in the same period of 2011.
- Net income, which includes a gain of $7.7 million for the change in fair value of contingent consideration related to the acquisition of King’s Gaming, grew 4% to $22.0 million, or $0.52 per share (fully diluted), in the three months ended June 30, 2012, from $21.1 million, or $0.54 per share (fully diluted). in the same period of 2011.
- Non-GAAP income before amortization of intangible assets and the change in fair value of contingent consideration related to the acquisition of King's Gaming was $15.6 million, or $0.37 per share (fully diluted), in the three months ended June 30, 2012 compared to $17.3 million, or $0.44 per share (fully diluted). for the three months ended June 30, 2011.
- On July 31, 2012, the Company announced that its Board of Directors established a new share repurchase program, which will expire on June 30, 2013. The share repurchase program authorizes the Company to purchase up to two million of its ordinary shares on the open market at prices to be determined by the Company’s management.
- On August 1, 2012, the Company announced that beginning on September 1, 2012, the Company would change its remuneration model to a revenue sharing model for all of its VIP rooms. Currently, all AERL rooms are under a fixed commission model of 1.25% of Rolling Chip Turnover.
- On August 6, 2012, the Company announced that it had entered into a non-binding memorandum of understanding whereby it would acquire Bao Li Gaming Promotion Limited (“BLGP”). The Company expects to close the transaction by September 30, 2012.
Asia Entertainment & Resources Ltd. Announces Second Quarter And First Half 2012 Financial Results
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