Authorities of China have demanded audits to VIP casino operators in Macau.
Macau.- Gaming Inspection and Coordination Bureau (DICJ) from Macau is investigating the VIP market in the Chinese casino city, where local junkets generate great percentage of the total gaming revenues. The DICJ stated that several Macau junkets may be operating in non-transparent conditions. The Chinese government maintains its crackdown on illegal casino offerings in the gaming zone.
About 120 licensed VIP operators have been registered in Macau. “We have done 40 junkets, some are good, some need some improvement, we have told them to improve their accounting system,” commented Paulo Chan, director of Macau’s Gaming Inspection and Coordination Bureau to Reuters.
According to the news agency, junket operations in Macau generate 53 percent of the total casino revenues. “This is a good proportion, we want to keep going with this,” added Chan. As the casino industry is seeking further investments by international operators, the government proposes alternative business opportunities to develop its economy outside the gaming sector.
In 2014, the Chinese government demanded a severe crackdown on VIP casino services, which led to a two-year economic crisis in the region. Late in 2016, the casino sector has started to show recovery signals and the international industry expects to increase the investments.