Casino turnover in Macau under pressure by closing VIP rooms
Several casinos in Macau have reported that they will be closing VIP rooms run by junket operators. The news comes as a blow to the local gambling industry.
Casino junkets are companies that specialize in casino vacations for wealthy gamblers. In Macau, this usually means decadent Chinese luxuries were getting trips to Macau as long as they gamble. Some junkets even have their own private VIP rooms in the casinos. This allows big gamblers to play their favourite casino games in peace and luxury.
The news of the closure of these junket VIP rooms comes after the recent arrest of Alvin Chau, CEO of Suncity Group, a junket company. Chau’s arrest has set in motion a chain reaction of events. In fact, it looks like this could put an end to junket activity in Macau’s casinos.
Following Chau’s arrest, Suncity decided to close all its VIP rooms. The company controlled about 45% of the VIP room market in Macau. So announcing this was already a big shock for the gambling city.
Now Wynn Macau and Melco Resorts & Entertainment have also announced their intention to close the VIP rooms before the end of the year. Wynn Macau has in Macau, among others, the casinos’ Wynn Palace and Encore Macau. Melco owns, among others, the City of Dreams and the Alteria casino.