Inside Asian Gaming

IAG JUN 2022年6月 亞博匯 78 PROFILE OF JUNKET NON-PERFORMING LOAN PATRONS The junket patrons we reviewed are meaningfully different than similar-value premium direct patrons. In general, the junket players we reviewed received larger credit lines than premium direct patrons. For instance, the average junket player with bad debt in our database received a HK$5.9 million (US$750,000) credit line, while similar premium direct patrons received 32% less, or HK$3.9 million (US$500,000). While the average premium direct patron has a smaller credit line than a similar junket patron, the junket database is less dependent on a few large patrons, in contrast to our experience with premium direct databases. As an example, with our junket database the top ~16% of junket patrons have 56% of the issued default credit. While this result is skewed towards larger players, that skew is less steep than in premium direct databases. For instance, some premium direct databases we are familiar with are so skewed that the top 15% of patrons represent 70% to 80% of debt. Junket players not only receive larger credit lines on average, but this inflation exists broadly across the value spectrum. As such, there may be a pervasive and wide-spread discrepancy between what these junket players expect in terms of credit and what the operator is willing to extend. 11% 26% 13% 22% 12% 12% 4% HK0.0 ~ 0.5m 16% of patrons and 56% of bad debt 排名前16%的貴賓博彩玩家可 獲得約56%的授信額度。 HK0.0 ~ 1.3m HK1.3 ~ 2.5m HK2.5 ~ 7.0m HK7.0 ~ 10.0m HK10.0 ~ 20.0m HK20.0m + BREAKDOWN OF JUNKET PATRONS WITH BAD DEBT, BY SIZE OF CREDIT LINE (HKD) 按信用額度，有壞賬的博彩中介人（港幣） (HKD/ junket patrons only) （港幣/博彩中介人） COLUMNISTS