Inside Asian Gaming

IAG OCT 2020年10月 亞博匯 42 IN FOCUS progressively bigger with Suncity estimated to now hold around 45% market share Macau-wide. Suncity and Guangdong have also been the most proactive when it comes to diversification, with both having listed their non-junket operations on the Hong Kong Stock Exchange. Suncity Group’s listed arm, operating under the same name, has interests in real estate in mainland China and luxury travel, and is the vehicle by which the company has spread its wings into casino operations in Vietnam, Russia and the Philippines. Rich Goldman Holdings, Guangdong’s listed arm, runs hotels and provides money-lending services in Hong Kong. They are, experts say, both ameans of legitimization, of accessing capital markets and, in the case of Suncity at least, of almost certainly aiding one of its ultimate long-game goals – taking part in the re-tendering process to become Macau’s seventh concessionaire. Why would the biggest junket in Asia want to move into casino operations? It all comes down to the math. HOW VIP ROOMS WORK As detailed in Part 1 of this article in the September 2020 issue of Inside Asian Gaming , junkets progressively moved off the streets and into the glitzy VIP rooms of Macau’s integrated resorts during the early 2000s – kickstarted by Macau gaming law 16/2001 and Administrative Regulation 6/2002, which outlined specific requirements for the operation of VIP gaming promotors. Suchmoveswerecomplete following implementation of the Gaming Credit Law in 2004, which for the first time allowed for concessionaires and junkets to provide credit to players and to legally enforce debt finance. This provided legal reinforcement and legitimacy to the long- term relationship between the two. 0 Bil USD 5 Bil USD 10 Bil USD 15 Bil USD 20 Bil USD 25 Bil USD 30 Bil USD 2011 2012 2013 2014 2015 2016 2017 2018 2019 NON-VIP MACAU VIP V NON-VIP GGR SINCE 2011 貴賓博彩 非貴賓博彩 自2011年起澳門的貴賓博彩及非貴賓博彩收入 VIP