THE M3: JUNKET EXPANSION; UNEMPLOYMENT

THE MACAU METRO MONITOR, NOVEMBER 27, 2013

 

 

MACAU'S JUNKET OPERATORS PROWL ASIA TO EXPAND VIP BUSINESS Reuters

Caps on the supply of gaming tables that Macau's casinos can install and new rules that make it harder for wealthy punters to remain anonymous are two of the regulatory changes prompting the junkets to alter their business model. Armed with extensive customer networks and deep pockets thanks to monthly turnover of up to $9 billion, the junkets are now trying to repeat the Macau formula in countries such as Cambodia, the Philippines and Vietnam.

 

Suncity, Heng Sheng Group, David Group, Tak Chun, Jimei Group, Golden Group, Mega Stars and Golden Dragon are some of the Macau junket operators scouting opportunities overseas.  Heng Sheng, one of Macau's youngest junket outfits which is aiming to go public in the near future, has cooperation agreements with Danang's Crown Casino in Vietnam and in Walkerhill casino in South Korea.

 

"More junkets are looking at the cash and premium mass player for business opportunities," said Chien Lee, former chairman and chief executive of Iao Kun Group which is planning a Hong Kong listing.

 

EMPLOYMENT SURVEY FOR AUGUST-OCTOBER 2013 DSEC

Macau unemployment rate for August-October 2013 held stable at 1.9% in comparison with July-September.