Search Results for: "macau junket"

Macau Junket Operator Sets Record Baccarat Prize of HKD100 Million

March 9, 2015

Latest Casino and Gambling News, World Casino News, Macau

A baccarat event held last Tuesday by the Sands China Ltd Cotai Central property ended up setting a Guinness World Record for the largest ever first place prize awarded for a baccarat tournament. The event took...

Macau junket company Imperial Pacific gets temporary Saipan casino approval

Lars Jones

March 8, 2015

Latest Casino and Gambling News, World Casino News, Asian Casino News

Saipan is the second largest island within the Commonwealth of the Northern Mariana Islands (CNMI) and is a popular tourist spot. The CNMI recently approved an amendment submitted by the Imperial Pacific Intern...

Macau casino operating pair found accountable for junket player deposits

Adam Morgan

May 17, 2022

Casino News, Latest Casino and Gambling News, Gaming Law & Legislation, Gaming Industry News, Economy/Finance, Macau, Mergers, Acquisitions & Partnerships, Fines, Lawsuits & Litigation

The ultimate appellate court for Macau has reportedly found local casino operators MGM China Holdings Limited and Wynn Macau Limited ‘jointly and severally liable’ for nine junket-related deposits. According...

Wynn Macau Limited establishes $7.9 million junket defence fund

Adam Morgan

April 25, 2022

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Macau, Mergers, Acquisitions & Partnerships, Fines, Lawsuits & Litigation

In Macau and casino operator Wynn Macau Limited has reportedly set aside approximately $7.9 million to defend itself against litigation that may be brought by former customers of local junket firm Dore Entertai...

Macau casino operators potentially facing heavy junket liabilities

Adam Morgan

April 22, 2022

Gaming Law & Legislation, Casino News, Latest Casino and Gambling News, Gaming Industry News, Economy/Finance, Macau, Mergers, Acquisitions & Partnerships, Fines, Lawsuits & Litigation

Global investment bank Credit Suisse Group AG has reportedly warned that the six casino operators in Macau could be on the hook for up to $6.37 billion in aggregated agent claims following the recent demise of ...

Macau lawmakers considering new junket and satellite casino legislation

Adam Morgan

April 21, 2022

Casino News, Latest Casino and Gambling News, Gaming Law & Legislation, Gaming Industry News, Economy/Finance, Licenses, Macau, Mergers, Acquisitions & Partnerships

In Macau and legislation that sets out the future governing of junket providers and satellite casinos reportedly passed its first Legislative Assembly reading yesterday by a 30-to-one vote. According to a re...

Sands China Limited cancels Macau deals with ‘three primary’ junkets

Adam Morgan

February 7, 2022

Casino News, Latest Casino and Gambling News, Gaming Law & Legislation, Gaming Industry News, Money Laundering, Economy/Finance, Licenses, Macau, Mergers, Acquisitions & Partnerships, Crime

American casino operator Las Vegas Sands Corporation has reportedly announced that its Sands China Limited subordinate terminated cooperation agreements in December with a club of ‘three primary’ Macau junket e...

Number of licensed junket firms in Macau drops to all-time low of 46

Adam Morgan

January 27, 2022

Gaming Law & Legislation, Casino News, Latest Casino and Gambling News, Gaming Industry News, Economy/Finance, Licenses, Macau, Mergers, Acquisitions & Partnerships, Crime

In Macau and the Gaming Inspection and Coordination Bureau regulator has reportedly licensed just 46 casino junket firms for 2022 at the same time as officials in neighboring China are continuing their crackdow...

Melco Resorts and Wynn cease junket operations in Macau

Sadonna Price

December 28, 2021

Latest Casino and Gambling News, Gaming Industry News, Macau

Casino operators have started shutting down junket operations in Macau. Both Melco Resorts and Entertainment Ltd., along with Wynn Macau Ltd. are no longer offering junket services in the SAR. It is expected th...

Macau casinos may now be held liable for partner junket debts

Adam Morgan

November 25, 2021

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Licenses, Macau, Fines, Lawsuits & Litigation

In a potentially landmark decision and a Macau appeals court has reportedly ruled that the enclave’s six casino operators can now be held liable should any of their partner junket firms go bust before paying ba...

Macau casino and junket firms seek clarity on future regulatory landscape

Adam Morgan

September 22, 2021

Latest Casino and Gambling News, Gaming Law & Legislation, Casino News, Gaming Industry News, Economy/Finance, Licenses, Macau, Mergers, Acquisitions & Partnerships

In Macau and representatives from some of the city’s junket firms reportedly joined casino executives at a meeting on Monday in hopes of getting more details on proposed regulatory changes. According to a Tu...

Junket boss acquires significant stake in Macau Legend Development Limited

Adam Morgan

September 15, 2020

Latest Casino and Gambling News, Gaming Industry News, Economy/Finance, Macau, Mergers, Acquisitions & Partnerships

In Macau and an entity controlled by local businessman Chan Weng Lin (pictured) has reportedly paid approximately $173 million in order to purchase a 20.65% stake in Asian casino operator Macau Legend Developme...

Wynn Macau Limited raising junket commission rate to 42.5%

Adam Morgan

March 4, 2020

Casino News, Latest Casino and Gambling News, Gaming Industry News, Economy/Finance, Macau

The Wynn Macau Limited subsidiary of American casino operator Wynn Resorts Limited is reportedly boosting the amount of commission it pays Macau’s many junket operators so as to recover from the downturn in bus...

Macau records annual decline in number of licensed junket operators

Adam Morgan

January 24, 2018

Latest Casino and Gambling News, Gaming Law & Legislation, Licenses, Macau

Despite recently recording an over 19% increase year-on-year in annual aggregated gross gaming revenues to in excess of $33 billion, it reportedly seems that the 40 casinos in Macau hit this improved figure by ...

Macau has no plans to license casino junket operator sub-agents

Adam Morgan

December 5, 2017

Latest Casino and Gambling News, Gaming Law & Legislation, Macau

In Macau, a senior government official has reportedly disclosed that authorities have no immediate plans to initiate a licensing regime for the numerous sub-agents that work in collaboration with the enclave’s ...