Sands China rethinking allocation of VIP gaming space at Macau properties

Sands China says it has already begun the process of redeploying former VIP gaming space at its Macau properties as it prepares for a market rebound in the post-VIP era.

The issue of premium gaming was raised during parent company Las Vegas Sands’ (LVS) 2Q22 earnings call on Thursday morning (Macau time) following the collapse of the VIP industry. That collapse was prompted by mainland China’s crackdown on cross-border gambling and the arrest of two key junket figures – Suncity Group’s Alvin Chau and Tak Chun Group’s Levo Chan – in late 2021 and early 2022 respectively.

Macau’s new gaming law has also changed the parameters for junkets by putting an end to the existence of junket rooms within Macau’s casinos and to the revenue share agreements that had formed the basis of past junket operations.

Discussing the allocation of the former junket space, Sands China’s Chief Operating Officer Grant Chum said the company had already begun redeploying some space from the rolling segment to the non-rolling segment and would continue to do so in future.

Source: https://www.asgam.com/index.php/2022/07/21/sands-china-rethinking-allocation-of-vip-gaming-space-at-macau-properties/