Changes in the junket business in Macao after gaming liberalization

Lam, Carlos Siu

doi:10.1080/14459795.2013.816760

Cited by 10 publications

(7 citation statements)

References 26 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Traditionally, the VIP rooms generate roughly more than 60 per cent of Macao’s total casino gaming revenue (Siu Lam, 2013) and constitute an essential component of Macao’s gaming industry. Generally speaking, a premium patron cannot access a VIP room unless they have a gambling budget of not less than US$62,500 per trip.…”

Section: How Casinos In Macao Operate – Vip Junketsmentioning

confidence: 99%

“…Generally speaking, a premium patron cannot access a VIP room unless they have a gambling budget of not less than US$62,500 per trip. These premium patrons always prefer anonymity for various reasons including privacy and superstition (Siu Lam, 2013, 2015).…”

Section: How Casinos In Macao Operate – Vip Junketsmentioning

confidence: 99%

“…Macao’s gambling liberalization and the introduction of some US-based casino operators, namely, Las Vegas Sands, MGM and Wynn Resorts, have made it the world’s largest gambling capital. The US casinos operate from mass-market casino floor, whereas Macao’s VIP rooms are unique and have always contributed to more than 60 per cent of its total casino gaming revenue (Siu Lam, 2013). The nature of these VIP rooms and junket operators, as well as their patrons’ cultural inclination to anonymity in their dealings, has brought concern over the possibilities of a wide range of criminal types to launder money in Macao (Sharman, 2011).…”

mentioning

confidence: 99%

See 2 more Smart Citations

Casino money laundering regulations – Macao and USA

Lam

Greenlees

2017

JMLC

Self Cite

View full text Add to dashboard Cite

Purpose Apart from presenting an overview and background on anti-money laundering (AML) rules and procedures for casinos in both Macao and the USA, this paper aims to examine the differences in their regulatory approaches with regard to their existing AML reporting processes and discusses possible weaknesses in their respective regulatory regime. Design/methodology/approach Given that the regulations and statistics on the AML issues may not all be publicly available, the authors managed to secure some data from the bureaus concerned through published reports and interviews with government officials. Regarding the AML procedures in casinos, the authors attempted to go over the annual reports published by the casinos for submission to the Hong Kong Stock Exchanges and Clearing Limited because all these casinos are listed companies in Hong Kong. Findings This paper analyzes the trends in reporting numbers and the categorization of the types of suspicious activity reports filed both in Macao and the USA. While the US suspicious activity reporting focuses on efforts to avoid currency reporting, Macao emphasizes improper or inadequate documentation and identification. Originality/value This paper is one of the few articles comparing the AML rules and procedures between casinos in the USA and Macao. It seeks to highlight the differences in their regulatory approaches and discusses the expected future direction of AML legislation.

show abstract

Section: How Casinos In Macao Operate – Vip Junketsmentioning

confidence: 99%

Section: How Casinos In Macao Operate – Vip Junketsmentioning

confidence: 99%

mentioning

confidence: 99%

See 1 more Smart Citation

Casino money laundering regulations – Macao and USA

Lam

Greenlees

2017

JMLC

Self Cite

View full text Add to dashboard Cite

show abstract

“…The casino first contracts out a gambling room to an operator (i.e., VIP room promoter) who then subcontracts with plenty of account owners (i.e., junket operators) who act as marketing agents recruiting VIP players for VIP promoters or casinos (Pontell et al., 2014; Wang & Eadington, 2008). Junket operators normally employ a number of representatives (reps) to conduct casino marketing arrangements, and “junket operators tend to trust reps who are related by blood or ethnic ties, as their information is likely to be complete and it incurs no additional efforts to monitor their behaviour” (Siu Lam, 2013, p. 330). Since mainland China became Macau’s major gambling market, VIP promoters who lack social connections with corrupt officials and wealthy businesses in mainland China have to rely on the guanxi networks of mainland junket operators and reps.…”

Section: Trans-regional Gambling Rings: How Mainland Chinese Gangs Exmentioning

confidence: 99%

Organized crime and illegal gambling: How do illegal gambling enterprises respond to the challenges posed by their illegality in China?

Wang

Antonopoulos

2015

Australian & New Zealand Journal of Criminology

View full text Add to dashboard Cite

“…Issues with preserving the culture of an area were expressed in several articles indicating that residential family life may be affected in four main ways: family functioning, relationships, childcare and psycho-social issues (Schwer et al , 2003; Cohen, 2014; Siu Lam, 2013). The trending toward theme parks and fantasy in Las Vegas seems to be a successful marketing ploy, particularly in large complexes where gambling activities may be separated from shopping and other entertainment venues, a process favored by Bestman et al (2015).…”

Section: Introductionmentioning

confidence: 99%

Changing brands and impacts on Las Vegas: messages for Asian gambling destinations

Jamieson

Howell

Lam

2021

AEDS

Self Cite

View full text Add to dashboard Cite

PurposeThe purpose of this study was to discover, qualitatively, periods of involvement in Las Vegas gambling marketing campaigns and analyze success factors that may be useful to other gambling destinations, particularly in the Asian market.Design/methodology/approachThe study was established to allow a two-pronged approach of semi-structured interviews and site analysis coupled with review of planning and marketing documents in Las Vegas, Nevada 1980–2000 era and ending with the 2019 branding approach.FindingsResults revealed degrees of success and rationales for changes in campaigns over a 40-year period. When analyzing market strategies, it became evident that many factors were involved decisions to visit Las Vegas, such as social, safety and security factors, as well as opportunities for recreation.Research limitations/implicationsGaining access to top level executives proved challenging due to reluctance of subjects wanting to disclose business strategies.Originality/valueThis study was unique in employing qualitative processes to elicit planning and marketing approaches and relative successes or failures from those involved in multi-property management. Further, analysis of documents over a wide time frame provided insight into the pitfalls and strengths associated with various campaigns.

show abstract

Changes in the junket business in Macao after gaming liberalization

Cited by 10 publications

References 26 publications

Casino money laundering regulations – Macao and USA

Casino money laundering regulations – Macao and USA

Organized crime and illegal gambling: How do illegal gambling enterprises respond to the challenges posed by their illegality in China?

Changing brands and impacts on Las Vegas: messages for Asian gambling destinations

Contact Info

Product

Resources

About