Casino

Macau: Gaming operators to cease contracts with junkets

Thursday 09 de December 2021 / 06:21

⏱ 1 min read

(Macau).- Analysts from Morgan Stanley believe more and more gaming concessionaires will terminate agreements with junket operators, effectively ending the sector in the city even without an official order from authorities banning them.

Macau: Gaming operators to cease contracts with junkets

It was revealed today that junket operator Tak Chun has issued an internal notice stating some ‘individual casinos’ will temporarily suspend their cooperation relationship with them.

The indication by what is largely considered the second-largest junket operator in Macau follows the suspension of all VIP rooms operated by the largest operator, Suncity, on December 1, following the arrest of founder Alvin Chau and several associates connected to the group by police authorities.

In 2019 Suncity held over 45 per cent of the junket market, with Tak Chun holding about 19 per cent, with that year reporting about US$14 billion in VIP revenues.

Media reports this week also hinted that Wynn Macau has issued termination notices for all its junket operated VIP rooms to be closed by December 20, with speculation other gaming operators will carry out similar moves, as scrutiny of the sector by authorities increases.

A note published by Sanford C. Bernstein yesterday also stated that the Gaming Inspection and Co-ordination Bureau (DICJ) has issued an instruction to junket operators to stop offering credit to their customers and requesting that chip purchases can only be done for upfront cash.

By Nelson Moura

Categoría:Casino

Tags: Sin tags

País: Macao

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