Linda Chen, executive director of Wynn Macau, said the company will end its cooperation agreements with junket operators before the end of the year.
Macau.- It’s official: Wynn Macau is closing all of its VIP rooms from today (December 20). Linda Chen, the operator’s executive director told Macao Daily that it will cease its agreements with third-party VIP gaming promoters companies.
Chen noted that the mass market was Wynn’s core business, accounting for 75 per cent of its total gaming performance this year.
Analysts at Morgan Stanley have recently said that more gaming concessionaires will terminate their agreements with junkets, effectively ending the industry in the city even if the authorities have not formally ordered a ban. All junkets licences in the city will expire on December 31. However, according to Morgan Stanley, if gaming operators cut contact with junkets, the industry may be brought to an end without official government orders.
It was reported that Sands China and Melco Crown Resorts are also planning to close all VIP rooms operated by junkets before the end of this year. Suncity Group Holdings decided to close all of its VIP rooms in Macau until further notice following the arrest of Alvin Chau Cheok Wa on cross-border gambling and money laundering accusations.