Macau's shift to effectively eliminate junkets and control credit-issuing options is strongly in line with the policies that both the Macau and mainland Chinese government are after, notes an expert.

The Legislative Assembly of Macau's approval of gaming credit legislation, which prohibits junkets from extending gaming credit, is viewed as a significant step towards aligning with public policy in China and Macau.

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

In a recent interview with AGB, Jeremy Douglas, Regional Representative at the United Nations Office on Drugs and Crime (UNODC) shed light on the significant findings of a report regarding the pivotal role played by casinos, cryptocurrency, and VIP junkets in fostering underground banking and crime in East and Southeast Asia.

China's Public Security Minister has called for a more robust crackdown on cross-border gambling in China.

A dying breed with a new role—that's how 2NT8 Limited’s Managing Director Alidad Tash described junkets in the ‘new normal’ after a new gaming law was introduced in Macau and the Chinese government crackdown on illegal activities associated with the trade. Tash also delved into the need for Macau authorities to provide more guidance to operators on how they intend them to invest in non-gaming. Meanwhile, Philippine retail gaming provider, DigiPlus, has claimed the top spot on the Philippines Stock Exchange, outperforming nearly 300 listed companies in terms of stock price growth, with a 232 percent jump throughout 2023. Gambling legislation that had been submitted into the Curacao parliament is also facing a tough road ahead as legislators and lawyers in the Caribbean island rejected the bill and criticized its drafting.

INSPIRE. That's exactly what the newly promoted President of Mohegan's ambitious multi-billion dollar resort in Incheon hopes to do. With a strong focus on VIP, despite China's crackdown, Chen Si says the group will be mainly reliant on non-gaming, hoping to leverage its experience in the US to create a "kimchi taco" experience.

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.

"It is no longer the case that anything is possible in Macau". A UN crime rep says that the closure of Macau's top junkets has sent a tidal wave into Southeast Asia, even as authorities crack down further on illegal activity.

After facing severe hardship, Macau's VIP segment is poised to attract new investors, potentially leading to a growth in the number of junket licensees.