Wynn Casino in Macau said previously their premium customers once depending on the junket promoters to source remain as important as ever to gaming revenues, but now they are looking for an alternative way to develop and maintain relationships with these players.
Wynn and other Macau casino operators terminated agreements with VIP gaming promoters late last year following the arrest of Suncity Group CEO Alvin Chau.
The Macau Government announced about on amendments the city’s gaming laws will limit how the casino operators will be able to work together with junkets in the future, including a ban on revenue sharing agreements and on junkets running their own VIP Clubs inside the casinos.
Wynn Macau has confirmed that they are no longer have any agreements with the gaming promotes or usually called junkets, but the premium segment remain vital to the company’s ongoing success.
Wynn Macau previously who depending heavily on the junkets to generate gaming revenue and the ability to maintain or grow their gaming revenues could be adversely affected by ending their agreements with the junkets.
There is intense competition among casino operators in Macau for premium customers. Our ability to maintain or grow our gaming revenues may be adversely affected by the termination of our agreements with gaming promoters and we will have to seek alternative ways of developing relationships with premium customers.
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