SJM Holdings and Galaxy Entertainment Group have revealed that they will maintain their cooperation agreements with junket operators at least until the end of current contracts.<\/p>\n\n\n\n\n\n\n\n
Macau.- Junket operators have received some relief. Amid speculation that it may be the end for the sector, two Macau casino operators have said they will continue working with junket operators, at least for now. <\/p>\n\n\n\n
Hong Kong newspaper Ming Pao has reported that\u00a0Ambrose So, SJM\u2019s CEO and Deputy Chairman<\/strong>, has confirmed the casino operator will maintain the VIP room business operated by junkets at least for the duration of existing contractors. However, it remains to be seen if the company will continue working with junkets once the cooperation contracts come up for renewal.<\/p>\n\n\n\n Angela Leong On Kei, <\/strong>SJM Holdings co-chairman and executive director, said during an interview with the city\u2019s public broadcaster TDM: “We have not made any agreements with the junkets\u2019 VIP rooms regarding ending collaboration.”\u00a0<\/p>\n\n\n\n Meanwhile, Galaxy Entertainment Group<\/strong>, has said it also intends o continue with current cooperation contracts despite recent news.<\/p>\n\n\n\n Yesterday\u00a0Tak Chun<\/a>, the second-largest junket operator in Macau, has confirmed that some casinos have suspended partnerships. It came after\u00a0Suncity Group Holdings decided to close all of its VIP rooms<\/a>\u00a0in Macau until further notice following the\u00a0arrest of Alvin Chau Cheok Wa<\/a>\u00a0on cross-border gambling and money laundering accusations.<\/p>\n\n\n\n Tak Chun said its affected employees will receive higher compensation than that contemplated by the Labour Relations Law, including one month\u2019s additional basic salary, seniority compensation, provident funds-for employees who have served for three years-and unapplied paid annual leave.<\/p>\n\n\n\n Credit Suisse also revealed Wynn Macau plans to close all of its VIP rooms<\/a> <\/strong>from December 20. Other operators are reviewing their positions but have not taken decisions. <\/p>\n\n\n\nGaming operators will terminate agreements with junkets, analysts say<\/h2>\n\n\n\n