Macau’s casinos pin hopes on everyday gamblers after junket shutdowns

Macau’s casinos face a bleak short-term outlook after shutting most of their lucrative gaming rooms catering to wealthy gamblers and

as COVID-19 travel restrictions prevent the shift to mass-market customers that they will depend on in the future.

The former Portuguese colony that is the world’s biggest gambling hub in terms of money wagered has long relied on the revenue from the VIP gaming rooms where high-rollers placed massive bets.

But the Chinese government’s recent crackdown on the junket business, which arranged the transportation, accommodation and the credit necessary to gamble for wealthy clients, is calling into question the financial outlook for casino operators including Wynn Macau, Sands China and MGM China.

Junket-run gaming rooms inside casinos made up roughly a third of Macau’s overall gaming revenues in 2019, according to Alidad Tash, managing director at 2NT8 Limited, a consultancy specializing in international casinos and integrated resorts.

Source: https://wtvbam.com/2021/12/21/macaus-casinos-pin-hopes-on-everyday-gamblers-after-junket-shutdowns/