Junkets

After an absence of about nine months, Hong Kong listed Rich Goldman has now confirmed its return to the junket promotion business, securing a VIP room at Solaire Resort & Casino in Manila.

Rich Goldman said its joint venture company in the Philippines began introducing customers to a VIP room in Solaire Resort & Casino in Manila from Jan. 1st after completing a profit sharing accord. 

As Macau celebrated the 20th anniversary since the handover to China last December, there was no indication of how the gambling hub’s fortunes were...

Australia’s top anti-money laundering watchdog has released an in-depth report into junket operators, concluding they are highly vulnerable to criminal activity and that casinos need to do more to mitigate the risks.

Australia's anti-money laundering watchdog, AUSTRAC, says criminals and foreign agents have infiltrated the junkets bringing players into the country, putting it at high risk of money laundering and financing terrorism.

The potential introduction of a digital yuan into Macau would be the final straw for the junket industry, which is already shrinking and diversifying its business model, Bloomberg reports. 

There have been some positive reports this week, talking about optimism over Macau’s medium-term future, led by the premium mass and mass markets.

The fallout from the inquiry into Crown Resorts' suitability to hold a license in Sydney may have ramifications for the entire industry in Australia, including tighter regulation, Fitch Ratings said in its 2021 outlook.

Crown Resorts issued a release on Tuesday morning clarifying its position on utilizing junkets going forward.

Ben Lee suggests that Macau might switch over its local economy, including its massive casinos, away from the Pataca or Hong Kong Dollar to the Digital Yuan. He sees this as an “elegant solution” for many of Macau’s economic challenges, and one that still leaves important roles for the junket industry as well.