Macau Operators Cutting Ties With Junkets As Wynn Macau Announces Full Closure
Summary
- Macau operators cutting all ties with junket operators
- Wynn Macau will shut all junkets down by Dec 31
- Macau gaming market to focus on regular players
Many things have changed in the course of the last 12 months and in Macau’s gaming industry, the biggest change will be the removal of junket operators.
Suncity VIP Rooms Closed
What started the ball rolling was the arrest of Suncity head Alvin Chau a few weeks ago. Suncity was the biggest junket operator in Macau and with their chief behind bars; they decided to close all their Suncity Group VIP rooms on Dec 1. These rooms were spread across multiple casinos in Macau and were operated by the Suncity Group. They were a prime destination for VIP gamblers from mainland China.
China’s strict anti-gambling laws on individuals and companies that lure Chinese gamblers to overseas casinos was one of the main reasons why Alvin Chau was arrested. This was a big blow to the junket gaming market in Macau as the Suncity Group was the backbone of junket operations in Macau.
The Gaming Inspection and Coordination Bureau of Macau announced the closure of the rooms but did not elaborate on how many VIP rooms were shut down.
Wynn Macau Cuts All Ties With Junkets
Casino operators in Macau have now decided to cut ties with junket operators and leading the charge is Wynn Macau Ltd. Linda Chen, vice-chairwoman and chief operating officer said that Wynn Macau will end all its connections with junket operators by the end of Dec 31, 2021. According to her, this would be good for the long-term development of Macau’s casino industry in light of the new anti-gambling laws in Beijing. Additionally, all the former VIP rooms reserved for junkets will now be used for other purposes.
Chen’s remarks are a clear sign that the relationship between Macau’s casinos and junket operators has finally come to an end. Other operators like Sands China Ltd and Melco Resorts and Entertainment Ltd are also reported to have severed ties with junket operators but they have made no public statements about the present condition of their relationships with junket operators.
SJM Holdings Ltd had one of its executives announce that the company was carefully reviewing their contracts with the junkets and would further assess the situation going forward.
According to gaming analysts, this closure of junket rooms across Macau casinos could signify the end of junket operators, even if there are no official regulations banning them.
David WalkerAuthor
David is our resident 'down under' contributor, letting us know what is going on in the southern hemisphere, he is also keen blackjack player
