The President of the Macau Professional Association of Gaming Promoters, U Io Hung, says there are now around 13 or 14 gaming junkets operating in Macau, an increase from the eight he revealed were operational in March.
Speaking at a seminar exploring the development of Macau’s gaming industry on Saturday, U Io Hung said, “After the new gaming law and the gaming junket law came into effect, there now is less room for junkets to survive and the recovery of VIP gaming business in Macau is not satisfactory.
“[The] rich customers will go elsewhere … it will be difficult to restore Macau’s gaming industry to the level of the past with only mid-course gaming.
“There are about 13 to 14 gaming junkets working in Macau with the six concessionaires, with MGM and [SJM’s] Grand Lisboa Palace having more junkets.”
In March, U Io Hung told IAG there were only eight junkets operating in Macau at the time, while a number of others were waiting to see how the industry would develop under changes to the junket law. These changes include junkets being prohibited from running their own junket rooms in Macau’s casinos and from entering into revenue share agreements with concessionaires. Their earnings are instead limited to earning a commission on rolling chip turnover.
During Saturday’s seminar, U Io Hung said that many of those who used to work in VIP rooms in Macau have now moved overseas.
“This is because many of the [former] junket staff have lost their jobs and have become senior executives operating VIP gaming businesses in other countries using the [old] Macau format,” he said.
“This has had a huge impact on Macau. Many casino or VIP operators in other countries have been wooing experienced gaming operators from Macau.
U Io Hung also acknowledged the recent cases of Suncity Group and Tak Chun Group, which saw many former senior junket figures, including Suncity’s Alvin Chau and Tak Chun’s Levo Chan, charged with “triad offences”. This, he said, would serve as a deterrent to existing junkets and have a negative impact on the industry.
However, Lam Kai Kong, director of Macau Junket Promoters Association, said it would be “impossible for Macau to get rid of the gaming industry” and that it must invest in gaming if it wishes to develop other industries around it.
