Junkets diversifying, following client trends

Macau’s junket operators, which bring in the majority of China’s big spending gambling into the territory’s casinos, are increasingly diversified business groups, with their models evolving to suit the demands of clients, Hengsheng Group principal investment director Tony Tong said. Speaking at the G2E Asia conference, Tong said the operators are still largely misunderstood by western markets and as a result are stereotyped as shady. “We are expanding internationally, we are following the VIPs. They are now looking for more than just gambling and we are there to serve.” He said activities may range from chartering a jet for VIP travel, to real estate and investment management services. “That is the future for VIP clubs,” he said, also pointing to rival SunCity, which is involved in businesses ranging from bullion trading to entertainment.