Macau junkets on charm offensive, to improve transparency, information

Macau’s embattled junket operators have embarked on a public relations push following a series of scandals involving VIP promoters and ongoing concern about lack of transparency in the market. VIP revenue in Macau slumped almost 40 percent in 2015 as Beijing’s ongoing drive against corruption forced high rollers to retain a low profile. From making up more than two thirds of revenue at the market’s $45 billion height, analysts reckon Macau GGR was split 50/50 last year with the mass sector predicted to continue to expand. The number of junkets has also tumbled 23 percent since Jan. 2015, from 183 to 141, according to data from the Gaming Inspection and Coordination Bureau (DICJ). Most market observers expect that number to fall further amidst rising bad debts and shrinking liquidity. Last week, Cali Group reportedly closed two of its four VIP rooms in Macau in order to shift resources to the Philippines. The...

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