Junket Operators in Macau are being reviewed by gambling regulators until August. Auditors have found problems with the books of operators at top casinos in the former Portuguese colony. Junket Operators cater to high roller players from mainland China and New Zealand, among others. The audits come in light of money laundering suspicions in the Las Vegas of the east. Credit issuance records and documents associated with high roller promoters are the focus of the review.
Junket Operators offer ‘temporary deposits’
The main concern of auditors at this time are ‘temporary deposits’ offered by Junket Operators to high rollers. These deposits are made by international high rollers and VIPs, and are settled by operators once gamblers are done playing. Roughly half of Macau’s gaming revenues come from Junket Operators, so the issue seems to be widespread.
Over 15 operators left the market in 2016, following crack downs by Macau officials on corruption and gambling crimes. Part of this included the arrests of 18 Melco Crown employees, who are still awaiting trial in Beijing. Audits are expected to be done by August of this year, and will cover 126 Junket Operators licensed in Macau.
Junket Operators target Millennials
With the exit of 15 operators, Junket Operators are now looking to new markets to increase gaming revenues. Galaxy Entertainment Group Limited has announced their intentions at the Global Gaming Expo (G2E) Asia. The move is expected to secure the casino operator’s future in terms of VIP players. According to Francis Lui Yiu-Tung, Deputy Chairman of the casino operator, millennials could change the face of gambling in Macau.
He also said that Millennials enjoy technology and gadgets. He continued: “It might have to be a different type of game.” The casino operator will be one of many trying to bring younger gamblers to Macau. However, we’re still waiting to see how they hope to bring technology into live games like Baccarat and Blackjack. Until then, be sure to check out some tech-savvy online and land-based casinos at New Zealand Casinos.