“We are also lowering our Non-GAAP income guidance for the year ended December 31, 2012 from the original range of $88 million to $95 million to a new range of $68 million to $80 million,” concluded Chairman Lam.
Conference Call and Replay Information
AERL will conduct a conference call to discuss the financial results today at 10:00AM EDT/10:00PM Macau. To participate, please dial one of the following numbers at least 10 minutes prior to the scheduled start of the call:
|1-800-500-0920 (United States/Canada)|
|10-800-714-1202 (North China)|
|10-800-140-1181 (South China)|
|800-901-111 (Hong Kong)|
|0808-101-1147 (United Kingdom)|
|1-719-325-2490 (Other International)|
Interested parties may also access the live call on the Internet at www.aerlf.com (select Events and Presentations). Following its completion, a replay of the call can be accessed on the Internet at the above link or for one week by calling either 1-877-870-5176 (U.S. callers) or 1-858-384-5517 (International callers) and providing conference ID 8316443.Definition of Rolling Chip Turnover Rolling Chip Turnover is used by casinos to measure the volume of VIP business transacted and represents the aggregate amount of bets players make. Bets are wagered with "non-negotiable chips" and winning bets are paid out by casinos in so-called "cash" chips. "Non-negotiable chips" are specifically designed for VIP players to allow casinos to calculate the commission payable to VIP room gaming promoters. Commissions are paid based on the total amount of "non-negotiable chips" purchased by each player. VIP room gaming promoters therefore require the players to "roll," from time to time, their "cash chips" into "non-negotiable" chips for further betting so that they may receive their commissions (hence the term "Rolling Chip Turnover"). Through the promoters, "non-negotiable chips" can be converted back into cash at any time. Betting using rolling chips, as opposed to using cash chips, is also used by the DICJ (Macau Gaming Control Board) to distinguish between VIP table revenue and mass market table revenue.