Through a company filing, the casino operator has announced that it ceased all arrangements with gaming promoters at Studio City Casino in December 2021.<\/p>\n\n\n\n\n\n\n\n
Macau.- Melco Resorts has confirmed that it ceased all junket arrangements at Studio City casino in December 2021. In a filing submitted under the US Securities Exchange Act, Melco Resorts said it had expanded its VIP rolling chip business to the Studio City Casino but\u00a0decided to cease all transactions with junket operators<\/strong>.<\/p>\n\n\n\n Las Vegas Sands Corp.<\/a>, the parent company of Sands China, also confirmed in its annual report that it had terminated an agreement with its three major gaming junkets in December 2021.<\/p>\n\n\n\n The decisions were taken as authorities tightened regulations on VIP junket promoters after the arrests of\u00a0Alvin Chau<\/a>\u00a0and\u00a0Levo Chan Weng Lin<\/a>, the heads of\u00a0Suncity Group Holdings and Tak Chun Group<\/strong>, two of the city’s largest junket groups.<\/p>\n\n\n\n Melco has also announced that it is analysing\u00a0the future of the Studio City casino resort<\/a>. The casino venue is owned by Studio City International Holdings rather than by the gaming operator Melco Resorts and Entertainment Ltd. That may need to change if it\u2019s to continue operating under the proposed new legislation that would end the\u00a0current sub-concession system<\/a>.<\/p>\n\n\n\n The company said: \u201cFor that purpose, we would need to seek an amendment to the terms of the Studio City land grant<\/strong> and comply with and complete various other administrative procedures which are subject to Macau government\u2019s consents, approvals and authorizations.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Through a company filing, the casino operator has announced that it ceased all arrangements with gaming promoters at Studio City Casino in December 2021.<\/p>\n","protected":false},"author":176,"featured_media":19449,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Melco Resorts and Las Vegas Sands have ceased all junket operations in Macau, specifically at Studio City Casino, in response to tightened regulatory scrutiny and arrests of key junket promoters. Melco is also evaluating the operational future of Studio City, which may necessitate changes to its land grant and sub-concession structure under proposed new legislation.","focusai_entities":"Melco Resorts, Studio City Casino, Las Vegas Sands Corp., Sands China, Suncity Group Holdings, Tak Chun Group, Alvin Chau, Levo Chan Weng Lin, Studio City International Holdings, Melco Resorts and Entertainment Ltd.","focusai_location":"Macau, US","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), payments_fraud_aml (0.7), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Financial Impact?","query":"What is the projected financial impact of Melco Resorts' and Las Vegas Sands' cessation of junket operations on their respective Macau GGR and NGR, and how will they offset this revenue shift?"},{"label":"Legislative Impact?","query":"How will the proposed new Macau legislation regarding sub-concessions and land grants specifically alter the governance framework and operational viability for properties like Studio City, and what are the implications for existing concessionaires?"}],"footnotes":""},"categories":[157,16338],"tags":[23970,22113],"class_list":["post-27094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-melco-resorts-entertainment","tag-studio-city"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=27094"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27094\/revisions"}],"predecessor-version":[{"id":27102,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27094\/revisions\/27102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/19449"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}