Veteran promoter VIP Gaming in Macau said for about six months, he has been involved in a business arrangement and in this case with Macau gaming concessionaire MGM China Holdings Ltd at its two properties, MGM Macau and MGM Cotai.
The veteran – U Lo Hong, historically referred to as the junket sector said that his knowledge, only a few similar junket-casino partnerships currently exist in Macau.
He also explained that the government, the concessionaires and the junkets are still trying to explore a way for how VIP gaming of Macau can work together in the future.
U Lo Hong’s licensed junket entity, Pacific Intermediário Sociedade Unipessoal Lda, is operating VIP play at designated pits at MGM Macau and MGM Cotai. The activity is via a rolling-chip programme, and does not involve any revenue split with the concessionaire partner, he said.
The remaining gaming promoters working in the Macau market, are facing the prospect of “restrictive” licensing terms and regulatory requirements.
And the fresh conditions are set out in a new consolidating bill called “Regime for the exploitation of games of chance”. The bill was likely to be given a second – and final – reading by November, Macau legislator Chan Chak Mo said in the last august.
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