Melco says recent VIP developments risky

Home » Melco says recent VIP developments risky

Melco Resorts says that the recent developments concerning Macau’s junket and VIP space is a signal of increased risks for operators, while Covid-19 continues to have a material effect on its operations.

Melco made the comments within a quarterly report for the quarter ended September 30, 2021, which was released on Tuesday.

“Gaming is a highly regulated industry in Macau and is subject to various laws and regulations. These laws and regulations are complex and there are limited precedents on the interpretation and enforcement of these laws and regulations.

“Changes in laws and regulations, and the interpretation and enforcement of such laws and regulations, may result in increased risks for operations on our properties,” said Melco.

In November, Macau’s highest court upheld a ruling that found Wynn Macau jointly liable with junket operator Dore Entertainment for the repayment of a HK$6m debt to a VIP player, setting a precedent that makes the gaming operator jointly liable with a gaming promoter for the refund of funds with the gaming promoter.

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Source: Asia Gaming Brief

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