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Industry
January 8, 2024
More than $42bn Wagered Online through Suncity, Claims Report
Suncity Group, once a leading casino junket, was responsible for some RMB300 billion ($42 billion) in wagers via online gambling activities, a report released by China Central Television (CCTV) reveals. Details emerged Monday with the report claiming that the junket operator benefitted from some RMB8.7 billion ($1.22 billion). Currently, online gambling activities are prohibited in […]
Industry
January 3, 2024
Macau Witnesses Another Drastic Decline in Junkets
Although Macau remains famous as the Vegas of the East, the region’s casino industry is now a far cry from its heyday of 2014 when 235 junket operators contributed around 60% of the $45 billion casino revenues, more than triple compared to Las Vegas. This drastic reduction is part of several targeted measures by local […]
Industry
July 12, 2023
Junkets Have Marginal Impact on MGM China’s Revenue, Report Says
Over the last few years, Macau has been cracking down on junket operators which ultimately resulted in a significant decrease in their number. Some 10 years ago, there were more than 200 junket operators, a number that has decreased to approximately 30 in 2023. Now, a new report reveals that the decreasing number of junket […]
Casino
February 24, 2023
Macau VIP Industry on the Crossroad, Former Employees Suffering
As the junket industry in Macau is continuing to adjust to the new reality, more than 90% of people who were previously employed with junket operators have not returned to the gaming industry. Junket Operators Staying on the Sidelines The figure was revealed by the president of the Macau Association of Gaming and Entertainment Promoters, […]
Casino
February 7, 2023
Junket Operators Impacted by New 5% Commission Tax
Besides the standard 35% tax on gross gaming revenue, casino operators in Macau, under the new rules, are due to pay an additional 5% floor “rent” fee. In addition to the casino operators, the new rules affected the once-profitable junket operators as well. Per the new regulation, the junkets are due to pay a 5% […]
Industry
January 4, 2023
Number of Licensed Junkets in Macau Continues to Decline
The crackdown on junkets amid alleged ties with criminal organizations started late in 2021. Back then, Alvin Chau, who used to be the CEO of the popular junket Suncity Group was arrested. Then, early last year, Tak Chun Group’s CEO was also apprehended over alleged ties to criminal organizations and illegal gambling. Number of Licensed […]
Industry
November 1, 2022
No Irregularities around Suncity Were Found, DICJ Head Testified
Macau’s Court of First Instance dealing with the case against former Suncity boss Alvin Chau and 20 other defendants heard Monday that the city gaming regulator had found no irregularities during its past checks of the finances of the junket operator. Cross-Checking with Concessionaires Chau and the others were indicted with illegal gambling activities, running […]
Casino
September 19, 2022
Chau Knew of Multiplier Bet Schemes but Did not Participate
The first day of the trial against Alvin Chau at Macau’s Court of First Instance saw the former boss and founder of the Suncity Group deny any allegations of participating in multiplier bet schemes at casinos in Macau. Iceberg-Type Scheme to Hide GGR, Avoid Tax The trial against Chau and 20 other people was initially […]
Casino
July 13, 2022
PAGCOR’s New Guidelines on Junkets Call for Enhanced Due Diligence
The Philippine Amusement and Gaming Corporation or PAGCOR is toughening up its stance on the way junket operators can run their business and associate themselves with gambling businesses in the country. A new set of guidelines published on Monday sheds light on the do’s and don’ts of what land-based businesses may do when seeking to […]
Industry
April 21, 2022
Macau Legislative Assembly Voted in Favor of New Junket Bill
Macau’s new junket regulation law passed its first reading at the Special Administrative Region (SAR) of China’s Legislative Assembly (LA) with an overwhelming majority, Inside Asian Gaming reported. Tighter Regulation and Penalties for Junkets The bill titled “Legal Framework for Operating Games of Chance in Casinos” is aimed at further strengthening regulation for casino junket […]
