Good morning. The Tak Chun junket trial in Macau has already revealed that company employees knew proxy betting was taking place in VIP rooms, but with claims employees had no involvement, with gamblers allegedly using phone apps to bet in Manila casinos. Also in Macau, the finance secretary says he’s unsure how many satellite casinos will survive. And Genting doubles down on New York, investing another $100 million into Empire Resorts.
What you need to know
- Witnesses in the first day of the Tak Chun junket trial have said proxy betting took place in its Macau VIP rooms, but claim employees were never involved.
- Genting Malaysia Berhad is further buckling down on New York, investing $100 million in Empire Resorts, increasing its investment to $624.4 million.
- Macau’s finance secretary unsure how many satellite casinos can remain open after the new concessions are issued, operators must retain employees.
On the radar
- Fitch Ratings issues a ‘BB’ rating to Light & Wonder.
- Caesars partnering with Jay-Z’s Roc Nation for Times Square casino bid.
- Macau resident arrested for money laundering, $22.52mln in casino chips.
AGB Intelligence
MACAU
Court hears proxy betting took place in Tak Chun’s VIP rooms
Testimony on Monday revealed that Macau junket Tak Chun employees witnessed, but allegedly didn’t assist in, proxy bets taking place in the group’s VIP rooms. The defense claims the admission proves they knew the activity was illegal, but former junket boss Levo Chan revealed little in his statement.
Industry Updates
- Push Gaming strikes major partnership with Pokerstars.
- Pragmatic Play hits bullseye with new virtual sports Darts launch.
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