Junket Sector Contracts to 36, Down 85 Percent Compared to Heydays

January 5, 2023 | Financial

MACAU, SAR (January 4, 2023) — Local media outlets report only 36 companies have registered with the city’s gaming regulator to run junket operations this year, a number down roughly 35 percent compared to 2019 before the onset of the Covid pandemic.

According to the Macau News Agency a list unveiled by the Gaming Inspection and Coordination Bureau recently, there are 36 registered junket operators in business this year, compared to 46 last year.

The new junket law passed last month prohibits a person from engaging in the junket business as a natural person. As a result, only companies are seen on the list released earlier this week.

Last year saw four natural people were on the list.

The latest figure pales in comparison with 2013 when as many as 235 junket operators were licensed by the city’s gaming watchdog at the apex of the gaming industry.

Under new rules designed to tighten regulation of the junket sector which saw its two biggest players – Suncity Group’s Alvin Chau and Tak Chun Group’s Levo Chan – fall from grace on charges in connection with what is known as under-the-counter betting, a gaming promoter can now only work for a gaming operator, and earn a commission capped at 1.25 percent of rolling chip turnover.

Besides, a junket-to-be has to pay a guarantee of MOP1.5 million (US$190,000) to start its business, with its partner and managing company having to pay MOP500,000 and MOP1.5 million in guarantees respectively to engage in its junket business.

SOURCE: Macau News Agency.

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