Saturday, July 13, 2024

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Banning junkets from insuring credit aligns with public policy: 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 protest against being banned from issuing gaming credit

Macau junkets wrote a letter to the city’s Legislative Assembly to express their opposition to being banned from issuing gaming credit.

Dowinn Group: from junkets to IRs, potential in the Philippines

The Philippines offers an exciting landscape, as operators thrive amongst a solid regulatory framework. Lorraine Koo, Corporate Chief Operating Officer for Dowinn Group explains how the company is expanding its roots beyond a junket base into IRs, the shifting focus on clientele – from Chinese to Korean, and the company’s evolving role.

Under the Scope: FATF, junkets, STRs, financiers and workarounds

The Philippines and Vietnam remain on the Financial Action Task Force’s grey list, the only two Asian gaming jurisdictions so defined. In this week’s Under the Scope, gaming expert Ben Lee looks at the differences between each country’s strategy, the impositions they’re facing, and business and political sentiment towards their continued oversight by the financial watchdog.

Macau junkets facing extinction: industry insiders

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

Casinos and junkets backbone of underground banking and money laundering in Asia – UN Rep

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.

Daily Asia Gaming eBrief: Macau poised for opportunity post-junkets: Niall Murray

Analysts at Maybank are predicting that 2024 will be a strong year for Bloomberry Resorts, with profit expected to rise by nearly a quarter. However, forecasts have been reduced due to a drop in gross gaming revenue, largely due to decreases in VIP and junket revenue, even though slots performed strongly.

Face to Face: Niall Murray – Macau’s move beyond junkets/horse racing

Veteran gaming expert and consultant Niall Murray takes a deep dive into Macau's shift away from junkets and VIP, possibilities and challenges for MICE and the cancellation of Macau's horse racing concession.

Macau: Junkets, RFID and gov’t partnership – Alidad Tash

In the second part of the Face to Face sit down with 2NT8 Limited’s Managing Director Alidad Tash, we delve into the shifting role of Macau's junkets, the frontloading of non-gaming spend – now upped to nearly $16 billion over 10 years, and how to align government and private-sector initiatives to benefit both. In addition, RFID tech is placing MGM China far ahead of the competition.

Macau Government proposes barring junkets from providing gaming loans

The Macau SAR government has proposed to completely bar junket operators from loaning money for gaming purposes, members of the Legislative Assembly Second Standing Committee recently revealed.