Wynn, Sands VIP Gamblers Deterred as New Macau Rules Loom
- Proposal raises capital requirements for new gaming promoters
- Gaming operators, goverment planning 'blacklist' of gamblers
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The Macau units of Wynn Resorts Ltd. and Las Vegas Sands Corp. may see a further squeeze in casino revenue if the local government passes a proposal to boost capital requirements 100-fold for new gaming promoters.
Macau’s government is working with new junket operators -- companies that bring in high-stakes gamblers and lend them money -- on a proposal to tighten operations for new entrants, according to people familiar with the matter. Proposals under consideration include raising capital requirements for new junket operators to 10 million patacas ($1.3 million) from 100,000 patacas, and would require at least one Macau resident as a shareholder, said one of the people, who asked not to be identified because the deliberations are private.