Everything indicates that 2021 will be the eight consecutive year of the downward trend in the number of licensed VIP junkets in Macau.
Macau.- Macau’s Gaming Inspection and Coordination Bureau (DICJ) has reported that there are now 85 junkets authorised to operate in the Special Administrative Region (SAR).
The number represents a drop of 12 compared to 2019.
The number of licensed VIP junket promoters in the city has gradually decreased, taking a toll on the government’s income from the sector.
Everything indicates that 2021 will be the eighth consecutive year that numbers have fallen.
In part, the decline is a response to the possible tightening of regulations such as the requirements for background checks on those involved in the business.
The DICJ has indicated the new requirements will include raising the minimum capital amount of a junket from MOP25,000 (US$3,131) to MOP10m (US$1.25m). The minimum capital deposit will go from MOP100,000 (US$12,524) to MOP10m (US$1.25m).
Covid-19 travel restrictions have also impacted in the junket sector in Macau, as has the tightening of regulations for offshore money transfers in China.