Junket association head Kwok Chi Chung told AGB that a resurgence in Hong Kong visitors had helped to prop up the VIP sector, with estimates that some $600 million was recorded in VIP rolling chip volume in January, due in large part to Chinese New Year.

Junket association head Kwok Chi Chung told AGB that Macau junkets are facing difficulties in luring agents, as the restrictions in total profit make Macau’s industry unattractive compared to overseas markets.

Junket association head Kwok Chi Chung told AGB that less than 10 percent of former junket employees have returned to the city’s gaming industry, despite a resurgence in Hong Kong visitors helping to prop up the VIP sector.

Macau junkets are facing extinction as crackdowns by authorities leave the industry increasingly disillusioned and market survivors lose hope.

Macau gaming industry insiders are wary of the potential criminalization of illicit money exchange in Macau as Macau’s Secretary for Security suggested the possibility of criminalizing such activities around casinos.

The Macau gaming regulator has established a cap of 50 for junket licensees in 2024. This move follows the implementation of the new gaming law that came into effect last year.

Nearly 75 percent of junkets in Macau remain inactive under the new junket operation model that started on January 1st, 2023, says the Macau Responsible Gaming Assocation head, Billy Song.