The Association of Gaming and Entertainment Promoters of Macau says the number of gaming rooms in the city has shrunk by at least 30 to 40 in the last six months as a result of weak VIP play and distress caused by bad debt, local media reports.
President of the Association of Gaming and Entertainment Promoters of Macau, Kwok Chi Chung, says the number of VIP gaming rooms in the city has fallen to 146, as quoted by Macau Business Daily. “For the past year and a half, the junket operators here still remain distressed by bad debts and tighter capital liquidity,” Kwok was quoted as saying.
In early 2015, Macau had 183 licensed gaming promoters, down from 218 the previous year, according to DICJ.
Last Friday, Paulo Martins Chan, Director of the Gaming Inspection and Coordination Bureau (DICJ) conducted a meeting with the Macau Gaming and Entertainment Promoters Association to discuss further regulation and law improvements. The meeting followed confirmation from the Macau Judiciary Police that L’Arc Hotel and Casino had reported an alleged embezzlement case of HK$100 million (US$12.9 million) by a senior staff member at the VIP gambling venue.