Macau has 25 licensed gaming promoters – also known as ‘junkets’ – according to the latest available figures. While the tally is up from the 21 that were registered as of May last year, the latest figure still represents only half the actual quota of 50 permitted under the local government’s market-wide junket cap.
That is according to the latest figures from the city’s casino regulator, the Gaming Inspection and Coordination Bureau.
The most recent newcomer is an entity named “Wanzda Promoção de Jogos Limitada”, in Portuguese, according to an update from the bureau. The list is dated May 9, but only recently put online.
Under the current gaming regulatory framework, individuals are no longer licensable as junkets; only companies.
All the 25 licensed junkets on the regulator’s announced roster are currently “active” in the city’s gaming market, veteran junket promoter U Io Hung remarked to GGRAsia. He heads the Macau Gaming Promoter Professionals Association.
Most of those licensed junkets are veteran Macau VIP gaming promoters, Mr U added.
While he said it was “difficult” to predict how the scale of the Macau junket sector would evolve, Mr U suggested the current gaming regulatory framework could prove challenging to the market entry of novice junkets.
That was due notably, to the requirement that any junket entities seeking to get licensed or renew their licence, should have company share capital no lower than MOP10 million (US$1.24 million), as stipulated in the “Regime on the activity of operating games of chance in casino”, observed Mr U.
The law – which came into effect from January 1, 2023 – specifically sets out the regulatory and licensing conditions for junkets.
According to that law, the net asset value of the licensed junket entity should be maintained also at a level no lower than MOP10 million during their licence’s validity period.
Such share capital requirement is “not proportional” to the actual market condition junket operators face nowadays, remarked Mr U.
He explained: “The high share capital threshold design for the regime had been made in the context that Macau junkets were dealing in huge volume of cash flow, and they were extending gambling credit to their VIP gaming patrons.”
“But, now, junkets are no longer allowed to provide gambling credit to patrons,” Mr U added. He was referring to the “Legal regime of credit concession for games of chance in casinos” – in effect since August 1, 2024 – which stipulates that casino concessionaires are the only entities permitted to provide gambling credit to patrons in the Macau market.
There were currently, few favourable conditions that could allow the current Macau junket sector to grow, Mr U also remarked to GGRasia.
That was “unless the junkets can enjoy more relaxed operating conditions,” as defined by casino concessionaires, he added.
He stated: “For instance, it would be more favourable for us if we are not restricted to only working in the VIP gaming zones, but also allowed to bring our clients to beyond the high-end ones.”
