Cancellation blow for Macau junket giant Tak Chun Group

Asian junket operator Tak Chun Group has reportedly confirmed that the lucrative cooperation agreements it held with Macau’s collection of six licensed casino operators have been unilaterally cancelled.

According to a report from Inside Asian Gaming, the Macau-headquartered company is widely considered to be the second largest junket enterprise in the former Portuguese enclave behind only Suncity Group but has now fallen foul of new rules that will oblige such firms to be licensed and refrain from issuing credit. The source detailed that these revised directives from the Gaming Inspection and Coordination Bureau are set to come into force from the first day of January although the regulator has so far remained tight-lipped on just how it intends to officially proceed.

Abrupt annulment:

Tak Chun Group reportedly declared that the termination of its cooperation deals with the likes of the Sands China Limited subsidiary of giant American casino operator Las Vegas Sands Corporation came on ‘very short notice’ and resulted in it having ‘very limited time to make the necessary staff arrangements’. Nevertheless, the move came almost a week after Suncity Group suffered an identical fate following the arrest in mainland China of its own Chief Executive Officer and largest shareholder, Alvin Chau Cheok Wa, on charges that he was helping to facilitate illegal cross-border gambling.

Source: https://news.worldcasinodirectory.com/cancellation-blow-for-macau-junket-giant-tak-chun-group-98531