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Number of Macau VIP rooms drops to approximately 100

The

Macau
total VIP gaming rooms in Macau has fallen by at least 30 to 40 in the last six months to almost 100, according to the Association of Gaming and Entertainment Promoters of Macau.

Engagement with VIP's remains poor at a time when an economic slowdown in China has already been affecting the region.

Data published by the Macau Gaming Inspection and Coordination Bureau shows that Macau's gross revenue from VIP baccarat dropped 11% to 212.5m patacas ($26.6m) for 2014 and the total was set to drop again for 2015, with the figure standing at 98.2m patacas after Q3.

The accumulated gross revenue for games and fortune for 2015 was 230.84m patacas, a 34% fall.

Kwok Chi Chung, president of the Association, told Macau Business Daily: "For the past year-and-a-half, the junket operators here still remain distressed by bad debts and tighter capital liquidity."

Junket operators that connect China's wealthy punters to Macau's casinos are waiting for gamblers to repay billions of dollars of loans.

With little access to credit and slow repayments occurring, money is not flowing, which is damaging the model of Macau.

It was reported in September that junket operator Dore Holdings had lost around HKD 2bn ($257.8m) in capital to theft.

Events such as this have caused some investors to withdraw funds from junkets.
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