LVS Says It Dumped Macau Junkets in December 2021

LVS Corp severed its ties with its three main Macau junket operators in December 2021, according to a statement in its annual report, filed Friday.

The company said there could be “no assurance we will be able to maintain or grow, our relationships with gaming promoters [junkets].”

Moreover, it could not be certain that junkets would continue to be licensed in Macau in the future, which could negatively impact its business. LVS operates casinos in Macau through its subsidiary, Sands China.

The move demonstrates that operators are facing up to the new reality in Macau. Beijing is no longer in the mood to tolerate the junket model that once generated the lion’s share of casino revenues in the world’s biggest gambling hub.

That model helped LVS to grow into the wealthiest casino operator in the world.

Source: https://www.casino.org/news/lvs-says-it-dumped-macau-junkets-in-december-2021/