Macau licenses only 46 casino junkets for 2022
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Macau licenses only 46 casino junkets for 2022. It's the first time since the watchdog began issuing such certifications some 20 years ago that the tally of licensed junket firms in the former Portuguese enclave has dipped below 50.
Junket firms in Macau receive a commission for promoting partner casinos to wealthy foreign gamblers. They also handle VIP’s travel, accommodation and banking needs. The number of junket companies has been decreasing since 2013. Macaue licenses 46 junkets for 2022.
Macau is home to over 40 casinos operated by SJM Holdings Limited, Galaxy Entertainment Group Limited and Melco Resorts and Entertainment Limited. The local Sands China Limited is a subsidiary of Las Vegas Sands Corporation and Wynn Resort Limited are a sub-sidiary of Wynns Reserves Limited; all six concessionaires will have to apply for new ten-year licenses.
Macau licenses only 46 casino junkets for 2022. New legislation proposes to put an end to such firms being able to ink revenue-sharing arrangements with area casinos and to allow them to simultaneously partner with more than one concessionaire.
The slump in junket interest comes as the government for China is stepping up its long-running clampdown on illicit cross-border gambling. Public Security Ministry purportedly investigated more than 17,000 such cases last year and arrested more more 80,00 people. Macau licenses only 46 casino junkets for 2022.
