The casino operator has confirmed that it too ended agreements with its primary VIP gaming promoters in December 2021.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0MGM China<\/strong>\u00a0has confirmed that it followed the majority of Macau casino operators in ceasing all junket arrangements in December. It confirmed the move while delivering its latest financial results.<\/p>\n\n\n\n The company stated: “We have focused our business on main floor gaming operations and, accordingly, we do not expect VIP gaming operations to be a significant source of revenue in future years.\u00a0<\/p>\n\n\n\n “The majority of MGM China\u2019s casino revenue has been provided by main floor gaming operations in recent years and we expect this customer base will be the primary source of growth in the future.”<\/p>\n\n\n\n Las Vegas Sands<\/strong>, the parent group of Sands China, has also revealed it\u00a0ended agreements with its three primary junket operators<\/a>, as has Melco Resorts<\/a>. 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\u2019s largest junket groups.<\/p>\n\n\n\n Local media reports also said the decision was influenced by Macau’s new gaming law amendment bill<\/strong>,\u00a0which includes several restrictions relating to gaming promoters. The bill will allow\u00a0junket operators to each provide services to only one casino operator<\/strong>.<\/p>\n\n\n\n Andr\u00e9 Cheong Weng Chon<\/strong>, Executive Council spokesperson, has said the bill would also ban junkets from engaging in revenue-sharing arrangements with casino operators and from operating certain areas or facilities in casino venues.\u00a0<\/p>\n\n\n\n The bill would also prohibit junkets from turning to third parties to conduct their business<\/strong>, except in \u201csituations deemed necessary by their partners, members of the management body or employees.\u201d<\/p>\n\n\n\n The final draft of Macau\u2019s gaming law amendment bill may be submitted to the Legislative Assembly (AL)<\/strong> for discussion and a vote before the current casino concessions expire on June 26.<\/p>\n","protected":false},"excerpt":{"rendered":" The casino operator has confirmed that it too ended agreements with its primary VIP gaming promoters in December 2021.<\/p>\n","protected":false},"author":176,"featured_media":25854,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"MGM China has confirmed the cessation of all VIP junket arrangements in Macau, aligning with other major operators like Las Vegas Sands and Melco Resorts. This strategic pivot, driven by tightened regulatory frameworks and the impending gaming law amendment bill, shifts focus towards main floor gaming operations as the primary revenue driver. The new regulations significantly restrict junket operations, impacting the traditional VIP segment.","focusai_entities":"MGM China, Las Vegas Sands, Sands China, Melco Resorts, Alvin Chau, Levo Chan Weng Lin, Suncity Group Holdings, Tak Chun Group, Andr\u00e9 Cheong Weng Chon, Executive Council, Legislative Assembly","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (1.0), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Concession Renewal Impact","query":"How will the cessation of junket operations and the new gaming law amendment bill influence the terms and conditions of the upcoming casino concession renewals in Macau?"},{"label":"Mass Market Strategy","query":"What specific strategic investments and operational adjustments are Macau operators implementing to effectively pivot towards a main floor gaming and mass market-centric revenue model?"}],"footnotes":""},"categories":[157,16338,158],"tags":[1618],"class_list":["post-27635","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-mgm-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27635","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=27635"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27635\/revisions"}],"predecessor-version":[{"id":27653,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27635\/revisions\/27653"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25854"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27635"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27635"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27635"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}