China – SJM and Galaxy to maintain current deals with junket operatorsBy Phil - 13 December 2021
Macau casino operators SJM Holdings and Galaxy Entertainment Group have both confirmed they will honour their existing agreements with junket operators at least until the end of their current deals.
Morgan Stanley has said that more casino groups could terminate their arrangements with junkets. Tak Chun, the second-biggest junket operator in Macau, confirmed that some casinos have axed partnerships following the arrest of Alvin Chau Cheok Wa on money laundering charges. His company accounted for 19 per cent of Macau’s junket business. Suncity Group Holdings has shut all of its VIP rooms in Macau until further notice. It accounted for 45 per cent of the junket market in Macau.
Speaking to Macau broadcaster TDM, Angela Leong On Kei, SJM Holdings co-chairman and executive director, said: “We have not made any agreements with the junkets’ VIP rooms regarding ending collaboration.”
Galaxy Entertainment Group, has said it also intends to continue with its current junket arrngements.
Macau has seen the total number of junket licences issued by the Gaming Inspection and Coordination Bureau (DICJ) fall year-on-year, from 235 in 2013 to 85 in 2021.