Could Macau’s junket industry be on its last legs?
Numerous industry sources said to in the past 48 hours are speculating as to the future of Macau’s junkets and it appears to be increasingly accepted that the industry as we know it may well not last beyond 31 December 2021.
Their trepidation follows last week’s arrest of Suncity Group CEO Alvin Chau by Macau authorities and the closure of the group’s Macau VIP rooms – seemingly ending in an instant the operations of a company that not so long ago controlled 45% of Macau’s VIP market, and in turn a sizeable chunk of the entire GGR of Macau.
However, the Suncity situation casts shadows across the entire junket industry with senior gaming industry executives telling IAG that this may well be the end for the once lucrative sector.
Their views were expressed in response to unconfirmed rumors circulating Macau on Monday and hastily reported by at least one Chinese-language media outlet in Hong Kong, that further junket rooms in Macau may soon cease to operate.
While specifics remain unclear, it is believed that all six Macau concessionaires are considering their options given the scrutiny junkets are now under and the looming issue of concession re-tendering in 2022.
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