Macau: DICJ tells junkets to stop offering credit
It’s been revealed that Macau’s gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ), has instructed junket operators to stop offering loans to customers.
Macau.- A report published by Sanford C. Bernstein says that Macau’s Gaming Inspection and Coordination Bureau (DICJ has issued instructions to junkets to stop providing credit to customers and to require prepaid cash to purchase chips. Junkets will no longer be allowed to provide VIP gamblers with loans, one of the pillars of their business model.
VIP junket operators usually work with a network of sub-junkets that know the credit history of their customers. The sub-junkets collect commissions from VIP junket operators, which provide credit to gamblers and are responsible for debt collection.
The news comes after Wynn Macau revealed it will shut all junket-operated VIP rooms from December 20. Wynn’s decision also comes after Alvin Chau Cheok Wa, Suncity Group CEO, was arrested for allegedly organising illegal gambling for Chinese clients, including online gambling through the Philippines. All Suncity Group VIP gaming rooms have already closed.
