Macau casinos to stop junkets at world’s biggest gambling hub – Bernstein – Reuters

December 12, 2021 by No Comments

HONG KONG, Dec 7 (Reuters) – Macau’s gaming regulator has ordered junket operators in the world’s largest gambling hub to stop offering credit to customers, according to brokerage firm Bernstein.

Macau’s Gaming Inspection and Co-ordination Bureau (DICJ) has ordered the operators, who bring big-spending clients from mainland China to VIP rooms in Macau casinos, often with loans to gamble with, to stop offering credit, Bernstein said in a research note on Monday, citing sources.

“Wynn and others are in the process of shuttering junket operations,” Bernstein said in the note.

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Separately, Bloomberg News reported on Tuesday, citing unidentified sources, that Wynn and Melco would close their junket rooms by Dec. 20 and Dec. 21.

Macau’s gaming regulator did not respond to a request for comment.

Casino operators Wynn Macau (1128.HK), Sands China (1928.HK), Galaxy Entertainment (0027.HK), SJM Holdings (0880.HK) and Melco International Development (0200.HK) also did not respond to requests from Reuters for comment.

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Source: https://www.reuters.com/world/china/macau-casinos-stop-junkets-worlds-biggest-gambling-hub-bernstein-2021-12-07/

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