U Io Hung: Macau junket woes continue
Macau’s junket industry faces ongoing challenges says the president of the Macau Professional Association of Gaming Promoters.
Macau.- U Io Hung, president of the Macau Professional Association of Gaming Promoters, has told a seminar on the development of Macau’s gaming industry that the junket sector continues to face challenges in Macau. He note that there were now only 14 licenced junket operators in the area.
The crisis triggered by the Covid-19 pandemic has been followed by criminal cases involving some of the city’s biggest operators and a series of legislative reforms. Hung said the implementation of new junket regulations had resulted in reduced income since operators are no longer permitted to share gaming revenue and are limited to a commission of only 1.25 per cent of rolling chip from concessionaires.
Meanwhile, Macau government has reintroduced a 5 per cent commission tax on junket commissions. Previously, commission taxes were often waived for an extended period. In this scenario, many former junket staff members have sought employment in foreign casinos. U Io Hung said that Japan and Thailand opening up to gaming activities would further challenge Macau’s ability to remain competitive due to their tourism resources.
