Macau’s junket association is having trouble attracting VIP gamblers to casinos as anti-corruption crackdowns have severely affected businesses. Over the past few months, many junkets have considered shutting down operations, citing a lack of revenue.
Last month, the government decided to crack down on the junket industry and impose tighter restrictions after another corruption scandal was highlighted by junket operator Dore Entertainment Co. Ltd. Junkit, which runs a VIP room in Win Macau, announced that the cage operator had stolen more than HK$400 million based on a total of 49 complaints filed with authorities.
The Macau government has decided to introduce stricter regulations to control the junket industry, and Macau junket promoters and cooperatives have only asked to review the same regulations, throw their support behind the new ones and put in place a process for the government to always have clear communication.
Top executives from the junket association attended a meeting with economic finance minister Lionel Leung to discuss the case of Dore Cage custodian and how the new policy will help prevent such theft. Executives of the junket association also spoke about the future of junket operators in Macau and how they would cope with the shortage of VIP gamblers. 안전놀이터
The junket executives met with Long and legislator Zheng Anting to confirm that they are in favor of the new regulations and appreciate the issuance of the Game Inspection Bureau and the new regulations designed to protect their interests. In a statement, Kuk Chi Chong, President of the Society of Promoters and Collaborators of Macau, said, “We have discussed this matter with the Minister. The Minister said the revision of the law may begin in the future to optimize the management of the industry. We hope that the Minister will be able to communicate with us more when he revises the law in the future.”
Macau’s October gaming sales fell the least compared to the last 17 months, a positive sign for casino and junket operators. Casino shares rose in Hong Kong and junket operators maintained a positive outlook that the VIP market would begin to recover quickly. SunCity Group, Macau’s largest junket operator, is confident about the future as CEO Alvin Chow believes the VIP market is much healthier than before and has already bottomed out in 2015, with the only way forward.