Tigre de Cristal in Russia’s Far East<\/a> and is readying to begin the construction of a massive integrated resort casino in Manila.<\/p>\nPotential Impact<\/b><\/h2>\n
Wenzhou’s government is requesting Chau “surrender as soon as possible” to face the allegations. The city says if he does, he will receive a more lenient punishment than he will if he continues to evade arrest.<\/p>\n
The Chau news is a major development, as Macau continues to review its regulations that oversee and govern the industry that won $45 billion from gamblers in 2013 alone.<\/p>\n
China President Xi Jinping has since instructed law agencies to crack down on VIP junket groups. Those groups led to gross gaming revenue (GGR) dropping to $27.9 billion just three years later in 2016. But gaming was on the rebound prior to the pandemic, with the 2019 casino win in Macau totaling more than $36.4 billion.<\/p>\n
Macau’s Gaming Inspection and Coordination Bureau say there are currently 85 licensed junket groups in the region. While that’s a steep decline from the hundreds of VIP travel organizers in business just a few years ago, the companies remain critical avenues to keeping Macau’s multibillion-dollar casinos bustling with big spenders.<\/strong><\/p>\nMacau’s six licensed casino operators are set to see their concessions expire in June of 2022, though an extension is likely because of impacts caused by COVID-19.<\/p>\n
Regardless, the next operating environment for the region’s casinos is expected to be under stricter governing rules. Being one of the largest junket moguls in Macau over the past decade, Chau’s arrest warrant could further jeopardize the legality of junket groups and how they might operate in the next regulatory regime.<\/p>\n
EXPLAINED: Macau Junkets<\/strong><\/p>\nJunket operators sometimes referred to as VIP promoters, act as facilitators for Macau casinos. The junkets guarantee casinos substantial gaming revenue from China’s wealthiest gamblers, and lure in those clients with free first-class travel and accommodations to the Cotai Strip and elsewhere in Macau.<\/p>\n
In exchange, Macau’s six casino operators provide gaming rooms, table game dealers, chips, and a monthly commission to the junkets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau casinos that do business with Suncity Gaming Promotion Company — the junket empire of Chinese billionaire Alvin Chau — say their VIP rooms run by the trip organizer continue to operate. That news comes despite a mainland city seeking the immediate arrest of Chau. Prosecutors in Wenzhou city in the Zhejiang Province shocked the […]<\/p>\n","protected":false},"author":25,"featured_media":193288,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069],"tags":[],"acf":[],"yoast_head":"\n
Macau Casinos Say Suncity Junkets Still Operating<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n