Former junket clients still important to gaming revenues: Wynn Macau

April 25, 2022 Macau Earnings & Filings Industry Updates

Macau casino concessionaire Wynn Macau Ltd says the premium customers it once relied on junket promoters to source remain as important as ever to gaming revenues, adding it must seek “alternative ways” to develop relationships with these players.

The comments, contained with the company’s 2021 Annual Report – published Friday – come after Wynn and other Macau casino operators terminated agreements with VIP gaming promoters late last year following the arrest of Suncity Group CEO Alvin Chau. The Macau SAR Government has also announced amendments to the city’s gaming laws that will limit how concessionaires are able to cooperate with junkets in future, including a ban on revenue sharing agreements and on junkets running their own VIP Clubs inside casinos.

In its Annual Report, Wynn Macau Ltd confirmed that it no longer has any agreements in place with gaming promoters but said the premium segment remains vital to the company’s ongoing success.

“We have historically depended on gaming promoters to generate gaming revenue and our ability to maintain or grow our gaming revenues could be adversely affected by the termination of our agreements with gaming promoters,” it said.