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

MacauFriday, Apr 20, 2018

SJM announced on Thursday that it will introduce a new “green energy shuttle bus service” starting in May, with the number of buses to increase in phases, local media reports.

MacauThursday, Apr 19, 2018

Macau casino operator Melco Resorts & Entertainment has added a total of twenty electric buses to its shuttle fleet, transporting customers to, from and between its integrated resorts City of Dreams, Studio City and Altira Macau.

MacauThursday, Apr 19, 2018

In a management analysis and discussion in its annual report, Wynn Macau highlighted the potential risks the company may face from the February resignation of founder and Chairman Steve Wynn following accusations of sexual harassment.

MacauThursday, Apr 19, 2018

Glenn McCartney, professor at the University of Macau says that tourism development should become a key criteria in the upcoming race for gaming concessions in Macau.

MacauThursday, Apr 19, 2018

Sands China’s Professionalism Training for Gaming Practitioners programme, first launched in July 2016, is on schedule to train 3,000 team members before the end of the year.

MacauThursday, Apr 19, 2018

Alfastreet is set to showcase Multi Touch Roulette, Lucky 8, and the Royal Derby horse race machine at G2E Asia.

MacauThursday, Apr 19, 2018

Showing its solid commitment to delivering products designed for the Asian market, Ainsworth will showcase its products in a dynamic booth, with dedicated Asian titles at the upcoming G2E Asia exhibition.