• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Sunday 15 June 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
  • 日本語
No Result
View All Result
IAG
No Result
View All Result

Concessionaires on notice as court confirms Wynn Macau jointly liable for Dore junket debt

Ben Blaschke by Ben Blaschke
Wed 24 Nov 2021 at 04:22
Wynn Macau

Wynn Macau

95
SHARES
2.4k
VIEWS
Print Friendly, PDF & Email

Macau’s casino operators could be liable for any debts left by defunct junkets under a landmark ruling by the Court of Final Appeal.

According to a report by TDM Radio Macau, the Court of Final Appeal (TUI) last week upheld a 2018 decision by the Court of Second Instance which found Wynn Macau Ltd and junket promoter Dore Entertainment Co Ltd jointly liable for repayment of a HK$6 million (US$770,000) debt owed to a VIP customer.

The debt relates to the high-profile theft of up to HK$700 million (US$90 million) from Dore’s VIP room at Wynn Macau in 2015. Following the theft, four players took the matter to court seeking a combined HK$64 million (US$8.2 million) they claimed to have deposited with the junket. However, only one of those players was able to produce a receipt proving his deposit, with the Court of First Instance subsequently determining Dore was solely responsible for the HK$6 million owed to him.

In 2018, the Court of Second Instance overturned that decision, ruling instead that Wynn and Dore were jointly responsible – a decision now backed by Macau’s top court.

“It seems clear and evident that gaming promoters will have to be included among the contracted entities for the development of the activities that comprise the concession … thus being equally evident that this is a legal public relationship. which characterizes the concessionaire’s subjection to a public law regime,” the ruling reads.

Current legislation does not exclude “non-contractual joint liability towards third parties of the concessionaire.”

The decision has potentially huge ramifications for the industry given the intimation that concessionaires could be held liable for any debts left outstanding by junket promoters to their investors should they go broke.

In an article published in Gaming Law Review in March of this year, former senior advisor to Macau’s Secretary for Economy and Finance, António Lobo Vilela, warned the TUI’s decision – which was pending at the time – would “reshape forever the relationship between casino operators and gaming promoters, finally understanding that the latent financial risks could eventually outweigh the perceived profitability of the VIP gaming.”

Macau’s VIP industry has been in decline for a number of years now, with just 85 licensed promotors as of January 2021 – the lowest number since just 77 were licensed back in 2006, according to figures from the Gaming Inspection and Coordination Bureau (DICJ).

The number of licensed operators peaked at 235 in 2013 but has fallen in seven of the past eight years including a decline of 10 from the 95 operators licensed in January 2020.

It is expected that number will continue to fall given the impact of the COVID-19 pandemic on regional travel and China’s crackdown on cross-border gambling.

As reported by Inside Asian Gaming, VIP baccarat contributed just MOP$5.96 billion in gross gaming revenue in 3Q21 compared to MOP$31.09 billion in the same period in 2019, while its share of Macau gaming revenue fell to 31.5% – less than half of the 73% share it held back in 2011.

RelatedPosts

Inside Thai IRs

Sands China completes full redemption of US$1.63 billion in notes due 2025

Fri 13 Jun 2025 at 05:57
Macau International Airport to expand into Taipa Ferry Terminal as passenger numbers keep rising

Macau to open up aviation market to more airlines in February 2026

Fri 13 Jun 2025 at 04:32
Macau sports betting concessionaire Macau SLOT sees profit grow 32% to US$15.7 million in 2021

Government says renewal of sports betting operator Macau Slot’s concession dependent on reducing foreign employees

Fri 13 Jun 2025 at 04:26
Morgan Stanley: Macau’s peninsula IRs could claim some GGR share from closure of SJM’s satellites

Morgan Stanley: Macau’s peninsula IRs could claim some GGR share from closure of SJM’s satellites

Thu 12 Jun 2025 at 12:54
Load More
Tags: casinodebtDore EntertainmentJunketsMacauVIPWynn Macau
Share38Share7
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Foreigner-only casinos: Seize the day

Editorial – Foreigner-only casinos: Seize the day

by Ben Blaschke
Thu 29 May 2025 at 13:38

I was recently asked by someone working at a foreigner-only casino for my thoughts on the outlook for the Asian...

On the brink

On the brink

by Pierce Chan
Thu 29 May 2025 at 13:27

The transition period for Macau’s 11 satellite casinos is set to expire at the end of this year, after which...

A moral defense of gambling

A moral defense of gambling

by Andrew Russell
Wed 28 May 2025 at 18:19

Economist Andrew Russell explores the differences between community benefit and in-principle arguments for the existence of a legal gambling industry...

Face to face

Face to face

by Ben Blaschke
Wed 28 May 2025 at 18:08

Konami caught the eye at the recent G2E Asia show in Macau with its SYNK Vision Tables, which utilize facial...

Evolution Asia
Aristocrat
GLI
Mindslot
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo
568Win

Related Posts

Greg Hawkins named Acting COO of Bloomberry and Solaire following Arasi departure

Greg Hawkins takes on permanent role as President and COO of Solaire parent Bloomberry Resorts Corp

by Ben Blaschke
Fri 13 Jun 2025 at 09:31

Bloomberry Resorts Corp, operator of the Philippines’ leading integrated resort brand Solaire, has confirmed the appointment of Greg Hawkins as Director, President and Chief Operating Officer at a board meeting held earlier this week. Hawkins had previously served as Acting...

Inside Thai IRs

Sands China completes full redemption of US$1.63 billion in notes due 2025

by Newsdesk
Fri 13 Jun 2025 at 05:57

Sands China Ltd, the Macau-facing subsidiary of Las Vegas Sands Corp, has completed full redemption of US$1.63 billion in outstanding notes due 2025. In a filing, the company confirmed that the notes were redeemed in full on 11 June and...

NSW state government moves to ban political donations from any clubs offering gambling

Report finds regulation of NSW gaming machines ineffective in supporting harm minimization outcomes

by Ben Blaschke
Fri 13 Jun 2025 at 05:45

A report by the NSW Auditor-General into the regulation of gaming machines has found that efforts by the state’s regulatory bodies to oversee the industry are not supporting harm minimization outcomes effectively. The detailed 47-page report, published Thursday, listed a...

Macau International Airport to expand into Taipa Ferry Terminal as passenger numbers keep rising

Macau to open up aviation market to more airlines in February 2026

by Pierce Chan
Fri 13 Jun 2025 at 04:32

The Macau Legislative Assembly (AL) has completed discussions on a new aviation bill, which is expected to take effect in February 2026. At that time, Macau’s aviation market will become fully open and the exclusive operating system no longer in...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文
  • 日本語

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • 日本語
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English
  • 日本語