Macau junket warns customers of continued scrutiny

Junket operator SunCity has sent a warning message to its agents and customers highlighting the risks associated with moving funds across the border to China.

The junket, which sent the message on Friday, highlighted the ongoing risk of moving funds and keeping funds in bank accounts which may be linked to channels of cross border fund transfer.

“The exact purpose of the warning is not clear at this stage. It may be for purposes of reminding agents and players about the need to be vigilant,” said Bernstein in a note on Monday.

The analysts said the warning should be viewed as a highlight of the continued risk associated with China’s focus on capital outflows on Macau gaming GGR.

“In the short run, the warning may lead to some customers keeping their funds in junket accounts rather than potentially transfer back to China. However, there may also be heightened concern about using various cross border transfer channels, which may create some liquidity headwind for the junket industry,” said Bernstein.

More news from this jurisdiction

MacauMonday, Dec 11, 2017

MGM Macau was one of the hotels to win the most awards at this year’s “Macao Occupational Skills Recognition System” (MORS) Gold Pin Competition.

MacauMonday, Dec 11, 2017

The Gaming Inspection and Coordination Bureau will soon be tightening its regulation of gaming promoters, says director Paulo Martins Chan.

MacauMonday, Dec 11, 2017

The Grand Lisboa Hotel was the title sponsor of a recent Dota 2 tournament held in Macau, held on December 8, 2017.

MacauMonday, Dec 11, 2017

Macau casino operator MGM China says it is currently waiting for approval from the government for its license for MGM Cotai, but expects to open on schedule.

MacauMonday, Dec 11, 2017

The first ten days of December saw gross gaming revenue in Macau reach MOP8.25 billion, with ADR of MOP825 million, according to the latest report from Bernstein on Monday.

MacauFriday, Dec 08, 2017

Global Gaming Expo (G2E) Asia, the region’s largest sourcing platform for global gaming and entertainment products, is the proud recipient of the Brand Exhibition Award.

MacauThursday, Dec 07, 2017

Studio City, the Hollywood-inspired, cinematically themed resort, today signed the Macau Labour Affairs Bureau (DSAL)’s Occupational Safety and Health (OSH) Charter, a step further to strengthen its commitment to occupational safety.