THE M3: JUNKETS; VIP GAMING; SOUTH KOREA

The Macau Metro Monitor, December 10, 2012

NEPTUNE BOSS SAYS JUNKETS NOT INVOLVED IN CRIME Macau Business

Nicholas Niglio, CEO of Neptune Group Ltd, dismisses rumors that junket operators in Macau are involved in illegitimate businesses.  “They [the promoters] will not give up their credibility for such a small return from illegal activities,” he added, noting the junket activity in Macau is regulated and governed by the Gaming Inspection and Coordination Bureau. As of June-end, Neptune controlled 51 VIP tables.  Around 2,000 licensed agents work for these tables.

Niglio also said that the VIP sector in Macau is now facing a consolidation period.  “It is time for industry consolidation as small junket promoters are gradually absorbed by mid-sized ones.”

VIP GAMING TO STAY STABLE IN 2013: FRANCIS TAM Macau Business

Secretary Tam said he had not heard anything about any possible restrictions to be imposed by Beijing that could affect the city’s VIP gaming sector.  “We expect that the VIP gaming business will enjoy stable development in the coming year,” said Tam.  The secretary was commenting on rumors that plans by the mainland authorities to strengthen their fight against money laundering and corruption will affect the casino industry.

OKADA EYES CASINO DEAL IN SOUTH KOREA Macau Business

Universal Entertainment Corp last week announced that it has signed a non-disclosure agreement with the Shinsegae Group of South Korea.  “The agreement was signed in preparation for commencing discussions regarding the commercial facilities at the casino resort complex development project at Yeongjongdo Island, Incheon, Korea being undertaken by the Shinsegae Group,” Universal Entertainment said.