Macau’s VIP business is struggling, leaving junket operators with no choice but to shut down.
The VIP game business is in such a big competition with Southeast Asian operators that Chinese gamblers cannot repay their gaming debt. These issues have been reported by the Front of Macao Gaming Group of Macau Gaming Group and the local Gaming and Entertainment Promoter Association.
Among those who have closed rooms is the famous Golden Group. David Group, another major operator, appears to have only one VIP game room left. The venue is said to be in Win Macau, a large scale reduction from the seven rooms they originally operated since early 2015. The company has not commented on the matter so far after denying such reports in early June.
According to Le Kuok Keong the Front of Macao Gaming, the VIP group is quickly losing money as the operating costs of VIP rooms are so high that gamblers are unable to pay back their debts.
Ray said there were about 3,000 resident employees affected by the closure of VIP rooms this year, with 40 to 50 guest rooms. Last year, Heng Sheng Group, which has more than 700 employees and 11 VIP rooms, is a case in point, and it is known that the company currently has only four rooms left in Macau and the number of employees has been depleted to about 100.
According to Mr. Ray, the closure of VIP rooms should continue because there has been no sign of the VIP industry going up in smoke. The slowdown in China’s economy is affecting many parts of Macau, but it’s having a big impact in the VIP gaming sector. 카지노사이트먹튀