Wynn Macau is closing all of its VIP rooms since yesterday, December 20. Linda Chen, the operator’s executive director told Macao Daily that it will cease its agreements with third-party VIP gambling promoters companies.
Chen noted that the mass market was Wynn’s core business, accounting for 75 per cent of its total gambling performance this year.
Analysts at Morgan Stanley have recently said that more gambling concessionaires will terminate their agreements with junkets, effectively ending the industry in the city even if the authorities have not formally ordered a ban. All junkets licenses in the city will expire on December 31.
However, according to Morgan Stanley, if gambling operators cut contact with junkets, the industry may be brought to an end without official government orders.
It was reported that Sands China and Melco Crown Resorts are also planning to close all VIP rooms operated by junkets before the end of this year. Suncity Group Holdings decided to close all of its VIP rooms in Macau until further notice following the arrest of Alvin Chau Cheok Wa on cross-border gambling and money laundering accusations.
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