Leading Macau gambling junket investor Takchun Group has announced plans to pioneer and expand its new market.
Speaking at the “grand opening” of the MGM Kotai Takchun VIP Club, a VIP gaming room at the MGM Kotai Casino Resort in Macau on Monday, Takchun Group Chief Executive Leo Chan said it was part of a broader strategy to bring his company into a new market.
“Next year, we plan to find new workplaces to actively enter overseas markets, continue to expand our empire, and strengthen VIP services and facilities to provide unparalleled customized treatment to VIP guests,” Chan said in a later press release.
Takchun Group says its MGM Kotai concert hall, which opened operations on Nov. 1, is responding to customer demand in Macau’s VIP division and competition among casino promoters for the player’s business. Still, investment analysts have released a number of reports predicting a slowdown in consumer demand for Macau gambling in the fourth quarter, particularly in the high-yield sector, a double-digit decline in Macau VIP total gaming sales in 2019.
MGM Cotai Tak Chun VIP Club is the 17th VIP club operated in the city by the casino promoter. Earlier this year, Tak Chun expanded its VIP Club to StarWorld and Wyn Macao Casino resorts, which are resorts run by Galaxy Entertainment Group Ltd and Wyn Macao Ltd, respectively.
Outside Macau, Takchun opened an 18-table VIP club at Okada Manila Casino Resort in the Philippines and an in-casino VIP club at Crown Plaza Da Nang Resort in Vietnam.
In September, Takchun Group Chief Financial Officer K.H. Tsang said he would no longer open VIP rooms outside Macau this year. But he said the junket brand was discussing opening venues in far-flung places such as Cyprus and South Africa.
Takchun’s growth has been strong this year, according to the brand’s comments. Its VIP gaming business has been steady until September, and the company has refrained from strengthening the credit conditions it offers to players. The stricter credit conditions correlate with a slump in VIP play caused by the economy or politics, such as the anti-trust campaign in mainland China.
“We’re talking more than 30% year-over-year growth. That’s above the industry average,” Tsang said.
Last week Chan told a session at MGS Entertainment Show 2018, an exhibition of companies supplying equipment to the casino industry, that stable total VIP gaming revenue is likely to be generated in 2019. “If VIP business growth can stagnate next year, it will already be good,” Chan said.
The opening ceremony on Monday was attended by MGM China’s Chief Operating Officer John Shigley and MGM’s Vice President for Asia-Pacific Kenneth Fong.
BY: 파워볼사이트