Good Morning. This week has been all about Suncity’s fall from grace and the future of the junket/ VIP model. In this week’s Face-to-Face interview we ask David Green, principal of Newpage Consulting, for his take on the latest developments. Green argues that one of the main issues is that of Macau’s ‘international’ border status.
Don’t forget to REGISTER for the upcoming AGB Webinar “Is this the end of junkets?” on Thursday, December 9th, 2021 from 4pm – 5pm HKT, where leading experts will discuss the future of the industry.
What you need to know
Suntrust Home Developers said the arrest of Suncity CEO Alvin Chau is not expected to have a direct impact on its business and will not affect the timeline for construction of its Westside City Project in Entertainment City, Manila.
China’s crackdown on illegal gambling is likely to intensify throughout the rest of this year and into 2022 as Beijing seeks to stem the outflow of an estimated $154 billion annually, according to a report from the Asia Racing Federation.
Crown Resorts said Blackstone’s sweetened bid still doesn’t represent value for shareholders, but it has given access to non-public information to allow the U.S. fund to formulate a better offer.
On the radar
- Summit Ascent non-exec. Director Philip Wong quits in “best interests of company.”
- Colossus Bets files patent infringement lawsuit against DraftKings in U.S.
- Marina Bay Sands to hold recruitment fair to fill 1,000 jobs.
- World’s only Karl Lagerfeld-designed hotel opens Dec. 3 at Grand Lisboa Palace.
What the papers say
- UO Group CEO one of the people arrested in Suncity case.
- SenseTime AI casino project at Resorts World Sentosa delayed.
FACE-TO-FACE with David Green
Suncity case raises carries wider, more worrying implications
The arrest of Suncity Group head Alvin Chau has likely put the final nail in the coffin for the junket industry, at least in Macau, but the potential fallout goes far wider. Newpage Consulting principal David Green, who is an expert in Macau’s gaming law, says the case seems to clarify a question that has been debated for some time over whether Beijing views the border between the mainland and Macau as an international frontier. In this week’s Face-to-Face Interview, Green tells us that the distinction carries worrying implications for the wider gaming industry in Macau.
- Melco to co-organize third World University Cyber League at Studio City.
- Galaxy wins Outstanding Social Responsibility award in Hong Kong.
- MGM China wins Green Pioneer Enterprise reward.
- UltraPlay shortlisted at the SBC Awards.
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