• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Number of Macau licensed junkets down 6th year in a row

Jan 30, 2019 Newsdesk Latest News, Macau, Top of the deck  


Number of Macau licensed junkets down 6th year in a row

The total number of licensed gaming promoters in Macau – either entities or individuals also known as ‘junkets’ – shrank by 8.3 percent over the past 12 months. The fall marks the sixth consecutive year of decline in the number of licensed junkets in the Macau market.

The total fell from 109 in January 2018 to 100 this year, according to the latest updated list of licensed operators published on Wednesday by the city’s gaming regulator, the Gaming and Inspection and Coordination Bureau.

Around January each year, the Gaming and Inspection and Coordination Bureau publishes in Macau’s Official Gazette a list with the names of all junkets licensed to operate in the city’s casinos. According to such data, in January 2013 Macau had a total of 235 licensed junkets.

The gaming regulator did not provide on Wednesday an explanation for the decrease in licensed junkets.

The Macau gaming regulator began implementing from 2015 stricter operating rules for the junket operators.

‪Paulo Martins Chan, director of the Gaming Inspection and Coordination Bureau, said earlier this month that an amendment bill set to regulate the city’s junkets was just “undergoing some adjustments”. He added at the time that the draft legislation would “soon” be submitted to Macau’s Legislative Assembly for deliberation.

As part of the draft bill, the Macau government is proposing to raise the capital deposit for any licensed casino junkets newly-registered in Macau, to MOP10 million (US$1.23 million). The Macau government has also mentioned it is preparing to address, via “severe penalties” introduced in the amendment bill, the issue of “unlawful” – i.e., unregulated – capital deposits placed with the junket sector.

Investment analysts have said that such capital deposits are typically made by members of the public to provide liquidity for some of the city’s VIP gambling business, and provide rates of interest far in excess of those available via the regulated financial system. But because such deposits are not regulated, they can lead to large losses for members of the public in the event of junket-sector problems, as happened when a large amount of money was allegedly stolen from a junket at the Wynn Macau casino hotel in 2015.

Macau’s Chief Executive, Fernando Chui Sai On, said during the local government’s policy address for 2019 – delivered in November – that his administration would “strengthen supervision of junket operations” and continue to conduct audits on junket activities.

Junket operators play an important role in Macau’s VIP gaming segment. They coordinate the recruitment of high roller players from mainland China and beyond, and crucially make it their business to know how much the players are worth and what they have in assets. They extend credit to those players – in order to circumvent the strict currency flow restrictions between Macau and mainland China –, collect on losses and provide accommodation and other entertainment for the gamblers when in Macau.

VIP gross gaming revenue (GGR) in Macau for full-calendar 2018 was MOP166.10 billion, or 54.8 percent of all Macau casino GGR for the period.


  • tweet
Related articles
  • SJM posts US$390mln 2020 loss, Cotai scheme in 1H
    SJM posts US$390mln 2020 loss, Cotai...

    Feb 23, 2021  

  • GEN Singapore expects China crackdown to hurt VIP biz
    GEN Singapore expects China crackdown...

    Feb 10, 2021  

More news
  • Aristocrat to launch EGM-based responsible gaming features
    Aristocrat to launch EGM-based...

    Feb 26, 2021  

  • Suncity to open clubs at Londoner Macao, Lisboa Palace
    Suncity to open clubs at Londoner...

    Feb 26, 2021  


Latest News

Aristocrat to launch EGM-based responsible gaming features

Aristocrat to launch EGM-based responsible gaming features

Feb 26, 2021  

Casino slot machine maker and digital games provider Aristocrat Leisure Ltd says it plans to launch in the first quarter this year a new product with responsible gaming features, which has already...
Read More
Suncity to open clubs at Londoner Macao, Lisboa Palace

Suncity to open clubs at Londoner Macao, Lisboa Palace

Feb 26, 2021  

Tech supplier Crane ups forecast for 2021 core sales

Tech supplier Crane ups forecast for 2021 core sales

Feb 26, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day


US$53.4 million

Adjusted EBITDA reported by Asian casino operator Melco Resorts and Entertainment for the fourth quarter of 2020



Most Popular

  • Macau casino GGR soared in final days of CNY: brokeragesMacau casino GGR soared in final days of CNY: brokerages February 23, 2021
  • Pansy Ho sells off more stock in MGM Resorts for US$36mlnPansy Ho sells off more stock in MGM Resorts for US$36mln February 23, 2021
  • Macau removes last mainland cities from its quarantine listMacau removes last mainland cities from its quarantine list February 23, 2021
  • GEG in US$1.6bln construction deal on Galaxy Macau Phase 4GEG in US$1.6bln construction deal on Galaxy Macau Phase 4 February 22, 2021
  • Macau VIP challenged by changes in China: Galaxy Ent bossMacau VIP challenged by changes in China: Galaxy Ent boss February 25, 2021
Copyright 2014-2020 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us