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The Macau Metro Monitor, March 22, 2012

CRA AWARDS LICENSES TO 2 MALAYSIAN JUNKET OPERATORS Business Times

• Las Vegas Sands (LVS) has warned that casino regulators in Singapore may prevent “Macau-style” junket operators from setting up there in a move that would almost certainly reduce the number of VIP gamblers likely to visit the city-state’s two upcoming integrated resorts.Singapore’s Casino Control Act stipulates that all junket operators must be licensed but although the LVS-owned.
• Key among amendments to the Casino Control (Junkets) Regulations 2009, is a requirement that the licensed junket operators bring in only international highrollers to the two casinos. ‘We have decided to use the term, IMAs, to more accurately describe what these agents do.
• As the odds continue to be stacked against casinos here, their future seems to be a big gamble.

The Casino Regulatory Authority of Singapore (CRA) has awarded the first batch of licences to two international market agents (IMA) Huang Yu Kiung and Low Chong Aun. The two Malaysian junkets will operate at RWS.

Casino operator This is the technical term used in the Casino Control Act to identify the holder of a casino licence. Commission-based play To attract high roller business, casinos offer commissions and rebates, typically calculated by reference to turnover or net revenue or both. High roller business is typically volatile, as.

CRA said the IMAs will focus on bringing in foreign high rollers to casinos here, and they will not target locals. It is in the midst of evaluating a few other applications and conducting probity checks for these applications. Twelve applications have been rejected.

Singapore Licensed Two Casino Junket Operators Companies

'The robust regulatory regime would ensure that licensed IMAs conduct business in a tightly regulated environment, said the CRA. The licenses will be issued for an 1-year duration and licensed IMAs must ensure that they continue to remain suitable to hold the licences.

ANOTHER MBS SUIT, ANOTHER JUNKET CLAIM Business Times

Singapore Licensed Two Casino Junket Operators Guide

Allegations of junket activity at Marina Bay Sands have surfaced again, this time in court papers filed by Takami Shinichi, a Singapore-based Japanese businessman being sued by the casino over a $2 million gambling debt. Shinichi, managing director of Avixs Master Fund Pte Ltd, claims in a High Court affidavit that he gained access to MBS's VIP gaming rooms through Chujo Tatsuya, a Nevada-licensed junket operator. Shinichi said he met Tatsuya at a Las Vegas casino several years ago, that had arranged for him to gamble at MBS by putting him in touch with a Japanese VIP hostess and inviting him to MBS's opening party in late June 2010.
'I do not know if Mr Chujo received any 'kick-back' from the monies I gambled, but I do know that it is the practice for junkets to receive such commissions,' Mr Shinichi said. 'I am now told that if any player plays under a junket, no credit can be given to him.'

In Shinichi's case, Sunil Singh Panoo, his lawyer, argued that his $2 million debt is not enforceable because Mr Shinichi was not a premium player before he began gambling at the casino on June 25, 2010. Shinichi also said in his affidavit that 'MBS didn't follow the rules and procedures required for credit transactions'. But MBS disagreed, saying that Mr Shinichi was a premium player at its Paiza Club after he deposited $300,000 with the casino on June 17, 2010.

The Casino Regulatory Authority said last night that it does not comment on ongoing court cases.
Robert Goldstein, LVS president of global gaming operations, said that he is patiently waiting for the government's instruction. 'But I don't think it'll be that material either way. If they do approve junkets, it will be a very, very restrictive environment, which will make it difficult for those junkets that operate in Macau to be here. So our approach has been and will continue to be very focused on developing a sales team that can go direct to customers. We do take on credit, direct credit, and are so far comfortable with that.'

Singapore Licensed Two Casino Junket Operators List

Crown Resorts says it will stop dealing with all junket operations as the company fights to prove it is fit to run a new casino in Sydney. 'Crown will permanently cease dealing with all junket operators, subject to consultation with gaming regulators in Victoria, Western Australia and New South Wales,' Crown said in a statement to the Australian Securities Exchange on Tuesday. Crown said it would only deal with a junket operator if it was licensed or otherwise approved or sanctioned by all gaming regulators in states where the company operates. It also said consultations had begun with gaming regulators in Victoria, Western Australia and NSW. Media reports last year alleged Crown's casinos had been used for money laundering and that junket tour operators Crown had relationships with had links to organised crime. After months of damning testimony, the NSW Independent Liquor and Gaming Authority's inquiry into Crown's suitability to hold the Barangaroo casino licence is in its final week of hearings. Crown Resorts lawyer Perry Herzfeld SC on Tuesday said the company's suspension of all dealings with junket operators should not be treated as an admission that its due diligence processes were 'not robust'. 'We accept they had shortcomings, but we don't accept the characterisation that they were not robust,' Mr Herzfeld said. 'A system can be described as robust even though an error has occurred.' Mr Herzfeld said the suspension decision occurred in the context of the inquiry where 'it was plain that serious allegations were being made by counsel assisting' and it was likely higher standards would now be applied. 'Suspension was a prudent step in order to review all of the junket relationships and consider whether to continue dealing with junkets,' Mr Herzfeld said. He also rejected the proposition that Crown had demonstrated either an 'indifference to regulatory compliance' or a 'culture of denial'. Counsel assisting the inquiry had previously suggested Crown did not apply high enough probity standards when evaluating its business partners. The inquiry was partly brought about because of an agreement by James Packer's private company to sell 19.99 per cent of Crown stock to Melco Resorts, which is owned by businessman Lawrence Ho. The regulator had banned Crown from letting Mr Ho's father, Stanley, acquire an interest because of his underworld links. Crown's lawyers on Monday argued that its business in China complied with legal advice the company had received by external lawyers, despite the fact that 16 of its staff were arrested by Chinese authorities in 2016 on accusations they had violated anti-gambling laws. Counsel assisting the inquiry has recommended finding that Crown and Mr Packer are not presently fit to be associated with the new $2.2 billion casino. The inquiry before commissioner Patricia Bergin continues on Wednesday. Ms Bergin is expected to issue a report in February 2021. Australian Associated Press