Published
Land-Based

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.

Asia News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...