Imperial Pacific’s VIP gambling turnover tumbles in February

Saipan casino operator Imperial Pacific International (IPI) saw its VIP gambling turnover tumble in February following the previous month’s record sum.

In a filing to the Hong Kong Stock Exchange on Thursday, IPI said VIP turnover at its Best Sunshine Live temporary casino totaled $1.67b in February. The sum is a significant retreat from the record $5.6b the casino reported in January, a period that included the kickoff of the annual Chinese New Year celebrations.

IPI’s monthly turnover reports have reported such dramatic swings in the past, leaping from from $1.55b last August to $3.95b the very next month. But IPI’s latest lowball figure comes shortly after a gaming analyst voiced suspicions that IPI’s figures may be artificially goosed in order to boost the company’s stock price.

The March issue of Forbes Asia contains a lengthy profile of IPI’s operations, including a quote from Newpage Consulting CEO David Green, who wondered if IPI’s monthly numbers “may be confected to ramp up the market value of Imperial Pacific.”