Prior to any spin-off, it is expected that TDS would assist AERL
in seeking additional financing so that AERL
would have the appropriate capitalization to operate as a stand-alone entity.
Our September 2012 results were affected by our internal decision to tighten credit to agents, as the slowdown in growth in China has caused us to be more prudent in extending credit and led to disappointing results," said AERL Chairman Lam.
Commencing September 1, 2012, all AERL VIP rooms are on a revenue sharing remuneration model.
The addition of this VIP gaming room will enhance our ability to serve our existing customers, and by combining our operations and network of agents with that of Bao Li Gaming, we can further expand our presence in the Macau VIP gaming market, ultimately providing our shareholders with long-term value," said AERL
's VIP rooms at the Galaxy Star World in Downtown Macau, Venetian Macao-Resort-Hotel and Galaxy Macau[TM] in Cotai were based on a fixed commission until September 1, at which time AERL
changed its remuneration model to a revenue sharing model for all of its VIP rooms.
Don Warkentin, president and CEO of AERL, commented, "We have started our user trial in the Columbus, Ohio, market.
31, 1996, AERL had cleared 150 microwave paths and had commitments to clear 39 paths.
AERL" or the "Company") (NASDAQ: AERL), which operates through its subsidiaries and related promoter companies as a VIP room gaming promoter, today announced it will implement a new program for large VIP agents who do not require credit from AERL ("non-credit agents"), effective September 1.
With this new program, AERL expects to reignite growth in Rolling Chip Turnover by attracting non-credit agents to bring more patrons into the Company's VIP rooms, which would not result in any additional credit risk to AERL.
5 billion in each of the three years ending December 31, 2013, 2014 and 2015, its shareholders would receive three additional purchase consideration installments of US$13 million and 625,000 ordinary shares of AERL
Our July 2012 results were affected by both external factors out of our control as well as our internal decision to tighten credit to agents, as the slowdown in growth in China has caused us to be more prudent in extending credit," said AERL
Currently, all AERL
VIP rooms are under a fixed commission model of 1.