Macau's casinos pin hopes on everyday gamblers after junket shutdowns
Macau's casinos are struggling after shutting most of their gaming rooms catering to wealthy gamblers. The Chinese government's recent crackdown on the junket business is calling into question the financial outlook for casino operators. Analysts say the future of the industry depends on attracting mass-market players. The future remains in mass and premium mass recovery. It depends upon controlling COVID-19. Wynn Macau, Sands China and MGM China did not respond to requests for comment. They did however not comment on their plans to replace VIP revenues. In November, Alvin Chau, the head of Maca's biggest junkets, was arrested and charged with setting up an internet platform based in Macao that let bettors in mainland China place overseas wagers.
China's strict COVID-19 movement restrictions have limited the pool of mainland gamblers that can enter Macau. In the pre-COVID month of October 2019, 3.2 million visitors came into Macao, in October 2021 that figure plunged to 328,245. Group visas for players have not been issued since the COVI-20 pandemic.