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“Junkets now contributing as little as 3% of gross gaming revenue in MGM China properties” 

Andrew W Scott and Ben Blaschke by Andrew W Scott and Ben Blaschke
Wed 12 Jul 2023 at 06:15
MGM Cotai reopens following COVID-19 lockdown as quarantined staff, guests all test negative

MGM Cotai

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MGM China President and Chief Operating Officer Hubert Wang said Tuesday that Macau’s junket operators are contributing as little as 3% to gaming revenues in his properties in 2023, and even less profit, as focus turns to the mass and premium mass segments.

Speaking exclusively to Inside Asian Gaming after taking part in a panel discussing the future trends of Asia’s integrated resorts, Wang confirmed that MGM’s reliance on junkets was negligible in 2023 following significant changes to the way the VIP industry is regulated under Macau’s revised gaming law.

As previously reported by IAG, these changes include an end to both revenue share agreements between junkets and concessionaires, and to junkets running their own VIP rooms in Macau casinos.

“I think right now in Macau you have 30-odd [licensed] junket operators,” Wang said.  The DICJ has allowed MGM to have eight this year, but fewer are actually operating and only a couple are bringing meaningful business.

Wang commented that the total VIP market in Macau is currently contributing around 15% of all gaming revenues and added that probably less than 5% is generated through junkets, with the remainder coming from direct VIP. Profit from junkets is even less than its share of revenue, Wang added.

Earlier, Melco Resorts’ Chief Operating Office – Macau Resorts, David Sisk, said the future of junkets was “outside of China” and agreed Macau’s concessionaires would have increasingly little reliance on what they can offer.

“We’ve been migrating junket play to in-house for some time,” Sisk said. “In the future, most VIP will migrate to premium mass.”

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Tags: GamingHubert WangJunketsMacauMGM China
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Andrew W Scott and Ben Blaschke

Andrew W Scott and Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Born in Australia, Andrew is a gaming industry expert and media publisher, commentator and journalist who moved to Hong Kong in 2005 and then Macau in 2009, when he founded O MEDIA, one of Macau’s largest media companies and parent company of Inside Asian Gaming.

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