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December 7, 2009

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Macau caps junket fees, cutting casino costs

(via Bloomberg) · September 22, 2009 · 11:15 AM

Macau, the world’s biggest gambling hub, will limit the commissions paid to junket operators to 1.25 percent of the betting chips purchased by high rollers, helping cut casino operators’ costs.

Las Vegas Sands Corp., SJM Holdings Ltd. and the four other operators in the only Chinese city where casinos are legal have until Oct. 1 to alter agreements with companies catering to so-called VIP gamblers. The cap will apply to future and current commissions, Francis Tam, Macau’s secretary for economics and finance, said in the government gazette yesterday.

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