Junket debtor database to be launched in 2017

“The entire system follows the law [Personal Data Protection Law],” Mr. Kwok claimed during the talk. “All loan contracts [for debtors] issued by the junkets will include a statement approving the debtors’ information to be saved in the database and to be used for references by members [of the database].”

The junket group president believes the database can help VIP promoters prevent overlapping lending, thus reducing the risk of bad debts.

Asked if the database will connect with overseas databases, Mr. Kwok said research on the issue is still undergoing, while adding the Association does not plan to connect the database with other regions.

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Mr. Kwok pointed out that connecting the database to those from other regions would be challenging due to the limitation of the city’s Personal Data Protection Law

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Meanwhile, speaking to Business Daily on the sidelines of the summit, Mr. Kwok said the shared database, supported by the Gaming Inspection and Co-ordination Bureau (DICJ), will be operated by the industry itself.

Meanwhile, Charlie Choi, chairman of the Macau Gaming Information Association (MGIA), says local junkets welcome the MSAR Government’s enhanced supervision of the industry such as conducting special audits on the promoters’ financial accounts, as announced in the 2017 Policy Address.

“Local junkets, as well as the Macau Junket Association, have long established close contact with DICJ,” said Mr. Choi during the summit. “With the current regulations, we believe a positive outcome will be visible next year.”
Mr. Kwok of the Macau Junket Association perceives that the government’s supervision is good for the development of VIP operations in the city, believing these regulations will, in fact, strengthen the city’s gaming credit culture.
“The more an industry is regulated, the better the industry will develop” opined Mr. Kwok.

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Meanwhile, Mr. Choi perceives the local VIP market is stabilising and proceeding to a healthy growth, which reveals the presence of new investors in the VIP market

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“With the future establishment of supporting facilities, new casinos plus the readjustment of junkets, I believe the business has reached its bottom,” Mr. Choi said.

He also indicated that local junket operators have ceased to seek opportunities outside the MSAR, adding that most junkets see their business in Macau to be the most important.

Meanwhile, Grant Govertsen, an analyst from Union Gaming, echoed Mr. Choi’s view that the local VIP market is stabilising.
However, speaking to Business Daily on the sidelines of yesterday’s gaming show, the analyst sees the VIP business will still post a decrease in revenue as the mass market continues to grow. He added that local regulations such as the smoking ban would further dampen the business performance of the VIP market.