HONG KONG--(BUSINESS WIRE)--Iao Kun Group Holding Company Limited (“IKGH”) (NASDAQ:IKGH), which operates through its subsidiaries and related promoter companies that act as VIP room gaming promoters, today announced that the company has engaged Rothschild (Hong Kong) Limited as the new sponsor for its dual listing application in Hong Kong.
The company will file a formal listing application to the Hong Kong Stock Exchange for the listing of and permission to deal in its securities as soon as practicable after completing the necessary procedures in connection with the preparation for its dual listing application in compliance with the latest rules and regulations of the Hong Kong Stock Exchange governing listing applications. The procedures include (but are not limited to) the sponsor completing an independent due diligence in connection with the company’s listing application, which includes interviewing the company’s management, customers and suppliers and reviewing material financial information of the company, and the company’s auditors completing the company’s audited financial statements for the track record period to comply with the listing requirements in Hong Kong.
Subject to any applicable regulatory requirements, the company will keep shareholders updated on the progress of its dual listing application. The company takes this opportunity to reiterate that it remains fully committed to the dual listing exercise and will continue to dedicate the requisite level of resources towards achieving this exercise.
About Iao Kun Group Holding Company Limited
IKGH is a holding company which operates through its subsidiaries and related promoter companies that act as VIP room gaming promoters, and is entitled to receive all of the profits of the VIP gaming promoters from VIP gaming rooms. IKGH’s VIP room gaming promoters currently participate in the promotion of five major luxury VIP gaming facilities in Macau, China, the largest gaming market in the world. One VIP gaming room is located at the top-tier 5-star hotel, the StarWorld Hotel & Casino in downtown Macau, and another is located in the luxury 5-star hotel, the Galaxy MacauTM Resort in Cotai, each of which is operated by Galaxy Casino, S.A. Additional VIP gaming rooms are located at the Sands Cotai Central and City of Dreams Macau, both in Cotai, and Le Royal Arc Casino, located in NAPE, Downtown Macau.
Forward Looking Statements
This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of IKGH’s management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements.