Junket operator Suncity Group – said by investment analysts to be one of the largest VIP gambling organisers in Macau – has confirmed to GGRAsia it is opening VIP facilities in Macau’s newest Cotai casino resorts; Wynn Palace and the Parisian Macao, as well as Studio City.
The Suncity VIP facilities at Wynn Palace, a property promoted by Wynn Macau Ltd, and those at the Parisian Macao, a venue promoted by Sands China Ltd, will open on August 22 and September 13 respectively – the dates those properties launch to the public – said the junket firm in an email. It did not say how many tables those facilities would have, or how many Suncity VIP rooms would be in those properties.
Suncity had previously confirmed to GGRAsia in an email on July 6 that it was to have VIP space at Studio City, a venue majority owned by Melco Crown Entertainment Ltd. The VIP area is scheduled to open on August 28, the junket operator said in its latest email.
Suncity Group did not give a response to a question from GGRAsia regarding whether the opening of these new VIP facilities represented an expansion of its existing junket business in the city, or a reshuffling of resources previously at other casinos.
Studio City opened on October 27 without any junket rooms – a first for the current generation of Macau’s large scale so-called integrated resorts. Since then a number of investment analysts had described Studio City’s gaming performance as lacklustre relative to other large venues in the market.
But Melco Crown confirmed on a conference call with analysts earlier this month – following the firm’s second quarter results announcement – that it would introduce VIP play at Studio City.
The “approximately 30 tables” for VIP to be deployed at Studio City would result over time in improved earnings before interest, depreciation, taxation and amortisation, said Lawrence Ho Yau Lung, Melco Crown’s chairman and chief executive, during the conference call.
Business news outlet Bloomberg last month reported that Tak Chun Group was planning to operate a VIP room at Studio City.
Wynn Palace will have “50 to 60 VIP gaming tables”, said on Wednesday Steve Wynn, chairman and chief executive of Wynn Macau Ltd.
The Parisian Macao will feature VIP rooms when it opens, said Wilfred Wong Ying Wai, president and chief operating officer of Sands China, in comments reported last month by Portuguese-language newspaper Jornal Tribuna de Macau. No mention was made in the report of how many VIP tables there might be.
Macau’s Secretary for Economy and Finance, Lionel Leong Vai Tac, last week told reporters the government was still assessing the Parisian Macao’s application – under the government’s table cap policy – for new-to-market gaming tables.
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"VIP growth [in Macau] is roaring back on the heels of last year’s economic stimulus – but we think this could stall once the effect of the stimulus and the Chinese housing bubble wears off – as it did in 2013-14"
Cameron McKnight and Robert Shore
Analysts at Wells Fargo Securities