Sunday, June 26, 2022

Macau junket warns customers of continued scrutiny


Junket operator SunCity has sent a warning message to its agents and customers highlighting the risks associated with moving funds across the border to China.

The junket, which sent the message on Friday, highlighted the ongoing risk of moving funds and keeping funds in bank accounts which may be linked to channels of cross border fund transfer.

“The exact purpose of the warning is not clear at this stage. It may be for purposes of reminding agents and players about the need to be vigilant,” said Bernstein in a note on Monday.

The analysts said the warning should be viewed as a highlight of the continued risk associated with China’s focus on capital outflows on Macau gaming GGR.

“In the short run, the warning may lead to some customers keeping their funds in junket accounts rather than potentially transfer back to China. However, there may also be heightened concern about using various cross border transfer channels, which may create some liquidity headwind for the junket industry,” said Bernstein.

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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