International edition
November 23, 2017 | Edition Nº3368

Contribution of junkets to Macau's gaming revenue is 53%

Macau: Gaming Inspection Bureau audits more junkets

Macau: Gaming Inspection Bureau audits more junkets
Paulo Chan, head of the institution, told reporters the junkets so far audited had mixed results and assured that authorithies are still investigating.
Macau | 05/17/2017

Paulo Chan, head of the institution, told reporters the junkets so far audited had mixed results and assured that authorithies are still investigating.

J

unkets, middlemen who lure high rollers with credit on behalf of casino operators and settle their debt afterwards, contribute just over half of Macau's total casino revenues, a key source of income for the government.

The cash flows and clients of these companies, however, have been subject to greater legal scrutiny due to concerns over money laundering.

"We have done 40 junkets, some are good, some need some improvement, we have told them to improve their accounting system," Chan said, adding that the current number of licensed firms was "balanced" at 120.

Macau, a special administrative region in China, is the only place in the country where Chinese nationals are allowed to gamble in casinos. Casino revenues had plummeted as the anti-graft campaign by President Xi Jinping kept gamblers away, but income has rebounded over the past nine months as more mainlanders returned.

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