New Crown Resorts Boss Says ‘No’ To Junkets

Australian casino operator Crown Resorts has a new boss. In his first week as Crown’s CEO, Ciarán Carruthers has made it clear that working with junkets is a thing of the past.

The “old junket model” is dead, according to Carruthers. Instead of focusing extensively on wealthy Chinese high rollers, he says Crown wants to attract tourists from everywhere. Carruthers, who was Wynn Macau’s CEO for five years, confirmed Crown’s position in an interview with Australian media this week. He told The Age that it’s time to usher in a new era of business.

I think there’s probably been an overreliance on the Chinese tourists in Australia; they’ve been such an easy target for some of the casinos of the past. Though I have great confidence tourism will return as the international borders continue to open up, Crown will not be going down the path of the old junket model,” said new Crown CEO Carruthers.

Carruthers also believes the new business model shouldn’t rely heavily on gambling. Instead, he says, it should consider other factors, such as entertainment and lodging, that may attract travelers to the properties.

Before that, Wynn had already begun reducing its interaction with junkets. Carruthers is continuing in that direction as the new head of Crown.

A Macau court told Wynn Macau last year that it was responsible for the six-figure debt its junket partner, Dore Entertainment, owed a gambler.

Source: https://www.casino.org/news/new-crown-resorts-boss-not-interested-in-working-with-junkets/