-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
B
BCR101
Guest
Hi Brother Silverfox,
it has been more than a month since you last contributed here.
how has your business been.
please find time to write here.
i have some questions on Baccarat strategy for you.
hope to hear from you soon.
regards
BCR101
it has been more than a month since you last contributed here.
how has your business been.
please find time to write here.
i have some questions on Baccarat strategy for you.
hope to hear from you soon.
regards
BCR101
maisatomai
New Member
Hi very interested in going to Long Jie after reading this thread.
Something I wish to clarify:
1) Is there any disadvantage in going to those Tuesday/Thursday cruise where LJ depart from Habourfront?
2) Must we tip in LJ?
3) If we do not have a junket, can we still get back the cruise fee after changing $300?
Something I wish to clarify:
1) Is there any disadvantage in going to those Tuesday/Thursday cruise where LJ depart from Habourfront?
2) Must we tip in LJ?
3) If we do not have a junket, can we still get back the cruise fee after changing $300?
I am regular on Thurs CNW for more than a year and Tues CNW for more than 6 mths. I still know nothing about the junket rules or house rules. Can't bother to find out.
I just want the games and I dun care about the tkt + cabin fares or whatsoever, these amount is not even enough for my 1/4 game on roullette.
Let me answer yr answer since i am a regular there
1) some pp prefer to go on tue/thur like bro Kia, becos they dun like to take ferry. The cruise will depart on tue / thur nite, and come back to harbour front on wed/fri morning. And i think this is the advantage i can think of.
disadvantage is that you can only gambling for few hr, 11pm-6am?? roughly, which is quite a turn off for hardcore gambler like me
also i feel that cruise-to-nowhere (CNW) nite, the casino is quite empty, and the table minimum bet is increase from $10 to $40, so if u bet small u will find yrself to have to "lobang" other.
2) if you roll with casino, there is no real advantage in tipping, if you are loaded , you can tip, but i dun recommend.
if you roll with junket, i recommend tipping. why i recommend tip?
becos those gals can help u do thing you not able to do yrself. like getting a room close to casino. If you need to take ferry back to singapore, and the ferry is fully book, those junket gals know those pp working there, and they can help u get a seat even thou it's "official" fully booked
and other services u find out yrself
3)yes, u can get back yr partial cruise fee by giving them $250 cash, they give u $300 NN chip, regardless u roll with house or junket.
hi dumbell,
this is my first time posting and i would like to ask u a couple questions regarding long jie before my FIRST visit next week
1) some pp prefer to go on tue/thur like bro Kia, becos they dun like to take ferry. The cruise will depart on tue / thur nite, and come back to harbour front on wed/fri morning. And i think this is the advantage i can think of.
disadvantage is that you can only gambling for few hr, 11pm-6am?? roughly, which is quite a turn off for hardcore gambler like me
also i feel that cruise-to-nowhere (CNW) nite, the casino is quite empty, and the table minimum bet is increase from $10 to $40, so if u bet small u will find yrself to have to "lobang" other.
i was planning to go on tuesday becos i checked the website and it say 8.30am will reach harbourfront and depart at 10.15am. Becos i want avoid the small boat stuffs. but from wad u said, i get the meaning is that the long jie ship will depart at night instead ?
And also if we never book the ticket thru phone, we have to reach how much earlier in advance to the boarding time to buy the tickets ?
pls reply to my questions... thx in advance !
this is my first time posting and i would like to ask u a couple questions regarding long jie before my FIRST visit next week
1) some pp prefer to go on tue/thur like bro Kia, becos they dun like to take ferry. The cruise will depart on tue / thur nite, and come back to harbour front on wed/fri morning. And i think this is the advantage i can think of.
disadvantage is that you can only gambling for few hr, 11pm-6am?? roughly, which is quite a turn off for hardcore gambler like me
also i feel that cruise-to-nowhere (CNW) nite, the casino is quite empty, and the table minimum bet is increase from $10 to $40, so if u bet small u will find yrself to have to "lobang" other.
i was planning to go on tuesday becos i checked the website and it say 8.30am will reach harbourfront and depart at 10.15am. Becos i want avoid the small boat stuffs
. but from wad u said, i get the meaning is that the long jie ship will depart at night instead ?And also if we never book the ticket thru phone, we have to reach how much earlier in advance to the boarding time to buy the tickets ?
pls reply to my questions... thx in advance !
i was planning to go on tuesday becos i checked the website and it say 8.30am will reach harbourfront and depart at 10.15am. Becos i want avoid the small boat stuffs
And also if we never book the ticket thru phone, we have to reach how much earlier in advance to the boarding time to buy the tickets ?
pls reply to my questions... thx in advance !
Hi Bro farida,
yes you're rite, it depart on tues morning 10.15, my bad for not explaining clearly. For thur then is depart at nite.
pls take note for thur nite CNW, if you depart on thur nite, friday morning go back HF you have to depart, if you want to continue staying on board, you have to pay cruise fee again, which is quite suck in my opinion, that's why i only try thur CNW only once.
i prefer to go on friday morning, can stay till sunday morning, big boat go big boat back, and only pay cruise fee once.
To be on the safe side, i say 1hr before depart time, i think 30min before depart they stop selling ticket, will make you take nx time slot, which will be ferry.:(
So for you u have to reach around 9am, for me i already get junket book my ticket, i usually reach on 9.30, can be later but i paiseh to make those gal wait for me to collect ticket.
another reason for going early is, sometimes (quite rare) the tickets is sold out, fully booked, which is quite possible since u dun have a junket yet.
Pls take note also the recommendation is for big boat, if you taking ferries from HF on other day, they stop selling tickets even earlier (they have to liase with the ferry operator the list of customers).
Last edited:
Thank you silverfox for your views and advice, which I concur and can relate to my own experience. Hope you will have time to post more often. It is all bros here against the one casino.
maisatomai
New Member
I very new to Casino but I was just wondering if we can beat those cruise casinos who offer rolling credit.
The rolling credit is 1% right? Does it mean for every $10000 we bet, they will return us $100?
With Wizards of Odds simple blackjack strategy, the house edge is 0.14%. So it mean that we have 0.86% advantage assuming we play in a "fair" blackjack table?
The 0.86% advantage mean that for every $10,000 we bet, we are expected win $86.
The rolling credit is 1% right? Does it mean for every $10000 we bet, they will return us $100?
With Wizards of Odds simple blackjack strategy, the house edge is 0.14%. So it mean that we have 0.86% advantage assuming we play in a "fair" blackjack table?
The 0.86% advantage mean that for every $10,000 we bet, we are expected win $86.
What's this?????
Jan 1, 2010
Rules for Casino junkets
Junket promoters who flout rules face penalties of up to $400,000
By Jessica Lim
++++++++++++++++++++++++++++++++
Junket operators are the middlemen who, for a commission, bring in high-rollers from all over the world. Typically, junkets earn a percentage - about 0.6 per cent to 1.8 per cent - of the amount of chips bought by clients, according to gaming websites. -- ST PHOTO: DESMOND FOO
++++++++++++++++++++++++++++++++
AN HOUR before the high-roller touches down in Singapore, and all his details would already have been sent to the Casino Regulatory Authority of Singapore (CRA) - going by new rules released on Thursday.
The rules are even stricter on the casino operator and the junket promoter and its representatives, who bring in the big spenders. They will be required to disclose details of their financial history before being licensed to work here.
Flout these rules and they face penalties of up to $400,000.
Junket operators and analysts The Straits Times spoke to said that the rules are in line with what other jurisdictions require, although they admit that some high-rollers may stay away from Singapore if they want their movements kept private.
Before coming up with the rules, the CRA looked at how junket operations are regulated in the United States, Australia and Macau, said its spokesman.
'We are a leading financial centre with a high level of safety and security as a competitive advantage,' she said. 'We developed a junket licensing regime that would be suitable for Singapore's local context.
'It is developed to facilitate a conducive environment for junkets to operate in Singapore, without compromising on law and order considerations.'
Read the full story in Friday's edition of The Straits Times
+++++++++++++++++++
Casino junkets - the rules and the penalties
Casino operators have to:
•Endorse a junket operator's licence application by signing an agreement which, among other things, spells out the commission to be paid. Junket operators need this agreement to apply for a licence.
•Submit a monthly report for payments to all unlicensed service providers who get a commission from the casino, including, for example, a tour bus operator.
•Issue identification cards for junket operators and representatives, who will need to wear them at all times while in the casino.
•Notify the authorities within five days of a junket agreement being terminated.
Rules for junket operators and their representatives:
•Junket operators and their representatives have to be licensed. To qualify, they must reveal details of their financial history, among other things.
•They must be above 21, and not be a bankrupt or have been issued a casino exclusion order. Similarly their companies cannot have a history of insolvency.
•When requested, junket operators must provide the authorities with documentation and any information on their background.
•Junket operators must notify the authorities, in writing, within seven days of any representative leaving the company. A list of licensed representatives employed by them must be submitted to the authorities yearly.
•Junket operators have to keep a record of every junket - including details of each player like his full name, date of birth, nationality, address, passport number and taxpayer identification number. Details of their stay and the amount of commission, rebate or freebies given to each player must also be recorded.
•Records have to be kept for at least five years at a location in Singapore made known to the authorities.
Penalties include:
•A letter of censure, or the suspension or cancellation of the licence of the junket operator or its representatives.
•Changing any of the licensing conditions.
•A maximum $400,000 fine for junket operators and up to $10,000 for their licensed representatives for each violation.
•Disqualifying junket representatives from obtaining a new licence for a specified period.
+++++++++++++++++++
Rules for Casino junkets
Junket promoters who flout rules face penalties of up to $400,000
By Jessica Lim
++++++++++++++++++++++++++++++++
Junket operators are the middlemen who, for a commission, bring in high-rollers from all over the world. Typically, junkets earn a percentage - about 0.6 per cent to 1.8 per cent - of the amount of chips bought by clients, according to gaming websites. -- ST PHOTO: DESMOND FOO
++++++++++++++++++++++++++++++++
AN HOUR before the high-roller touches down in Singapore, and all his details would already have been sent to the Casino Regulatory Authority of Singapore (CRA) - going by new rules released on Thursday.
The rules are even stricter on the casino operator and the junket promoter and its representatives, who bring in the big spenders. They will be required to disclose details of their financial history before being licensed to work here.
Flout these rules and they face penalties of up to $400,000.
Junket operators and analysts The Straits Times spoke to said that the rules are in line with what other jurisdictions require, although they admit that some high-rollers may stay away from Singapore if they want their movements kept private.
Before coming up with the rules, the CRA looked at how junket operations are regulated in the United States, Australia and Macau, said its spokesman.
'We are a leading financial centre with a high level of safety and security as a competitive advantage,' she said. 'We developed a junket licensing regime that would be suitable for Singapore's local context.
'It is developed to facilitate a conducive environment for junkets to operate in Singapore, without compromising on law and order considerations.'
Read the full story in Friday's edition of The Straits Times
+++++++++++++++++++
Casino junkets - the rules and the penalties
Casino operators have to:
•Endorse a junket operator's licence application by signing an agreement which, among other things, spells out the commission to be paid. Junket operators need this agreement to apply for a licence.
•Submit a monthly report for payments to all unlicensed service providers who get a commission from the casino, including, for example, a tour bus operator.
•Issue identification cards for junket operators and representatives, who will need to wear them at all times while in the casino.
•Notify the authorities within five days of a junket agreement being terminated.
Rules for junket operators and their representatives:
•Junket operators and their representatives have to be licensed. To qualify, they must reveal details of their financial history, among other things.
•They must be above 21, and not be a bankrupt or have been issued a casino exclusion order. Similarly their companies cannot have a history of insolvency.
•When requested, junket operators must provide the authorities with documentation and any information on their background.
•Junket operators must notify the authorities, in writing, within seven days of any representative leaving the company. A list of licensed representatives employed by them must be submitted to the authorities yearly.
•Junket operators have to keep a record of every junket - including details of each player like his full name, date of birth, nationality, address, passport number and taxpayer identification number. Details of their stay and the amount of commission, rebate or freebies given to each player must also be recorded.
•Records have to be kept for at least five years at a location in Singapore made known to the authorities.
Penalties include:
•A letter of censure, or the suspension or cancellation of the licence of the junket operator or its representatives.
•Changing any of the licensing conditions.
•A maximum $400,000 fine for junket operators and up to $10,000 for their licensed representatives for each violation.
•Disqualifying junket representatives from obtaining a new licence for a specified period.
+++++++++++++++++++
Business Times - 01 Jan 2010
Junket reporting may cramp casinos' style
Casino operators will have to report on junket operators, who will require licences here By ARTHUR SIM
HIGH rollers accustomed to discreet VIP access may find themselves in the spotlight if they plan to gamble in Singapore's casinos.
The Casino Regulatory Authority (CRA) has released detailed regulations on the licensing and regulation of casino junkets here which require casino operators to make arrival reports that will include the particulars of all junket players and promoters at least one hour before any are allowed to enter the casinos.
This puts an end to gambling incognito and, more importantly, increases the level of oversight expected of casino operators here. Indeed, the regulations, which were made public yesterday through CRA's website, leave the onus of maintaining the integrity of junkets on the casino operators.
But this is not to say that junket promoters will have it easy. Junket promoters organise gambling trips for high rollers and usually earn a commission on the bets placed by their clients. Some promoters offer credit to gamblers as well as 'comps' (complimentary items such as travel and lodging) to entice clients to gamble.
To regulate the junket industry, CRA requires all junket promoters and representatives to be licensed and undergo 'investigations' which are similar to probity checks for casino licences. The cost of the checks will be borne by the junket promoters.
Licensing requirements have also been set up detailing the duties of promoters, including maintaining records of all clients, commissions, rebates and financial statements which CRA will have access to. They will also have to declare their finances on a regular basis.
As a part of the regulations, a junket agreement between the casino operator and the junket promoter detailing the terms of business including commissions must be lodged with CRA. Disciplinary action for anyone who steps out of line could include a fine of up to $400,000.
A spokesman for CRA said: 'CRA has studied the way various jurisdictions in the US and Australia as well as Macau regulate junket operations. We have also taken cognisance of Singapore's circumstances - that we are a leading financial centre with a high level of safety and security as a competitive advantage - and developed a junket licensing regime that would be suitable for Singapore's local context. The junket licensing regime is developed to facilitate a conducive environment for junkets to operate in Singapore, without compromising on law and order considerations.'
Melvyn Boey, an analyst with Bank of America Merrill Lynch, said that he is not surprised by CRA's junket regulations.
He believes the main aim of the junket regulations is to restrict money laundering and this is likely to 'deter' that segment. He also said that certain requirements by CRA, such as the disclosure of junket commissions, is similar to those in other gaming jurisdictions.
It has been reported that the crucial business brought in by junkets could elude Singapore. However, Mr Boey believes 'in-house' high rollers from the casinos' own VIP lists will account for much of the high-roller business in Singapore. 'I am not inclined to change my revenue projections,' he added. For 2011, the first full-year of operations, Mr Boey expects total gross gaming revenue from the casinos at Marina Bay Sands and Resorts World at Sentosa to hit $4 billion.
Junkets generally refer to the VIP or high-roller business segment in casinos and depending on the country, can account for a significant portion of the gross gaming revenue. UOB KayHian notes that for Genting in Malaysia, VIP gamblers accounted for 30 per cent of the total gaming revenue in 2008. In Macau, it noted that VIP gamblers accounted for 66 per cent of total gaming revenue while in Singapore, it has projected VIP gaming revenues of about 42 per cent at Resorts World at Sentosa.
UOB KayHian also said in a recent report that the 'market may be overly optimistic on Singapore casinos' high-roller revenues due to rising competition, client stickiness and potentially cumbersome disclosure requirements'.
Krist Boo, the spokeswoman for Resorts World at Sentosa, said: 'Junket operators play an important role in bringing premium gaming customers into Singapore. They are integral to Singapore's vision of making the integrated resort an international success, and we support that vision. We are working closely with both CRA and junket operators to ensure that our operators are regulated and licensed.'
Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.
Junket reporting may cramp casinos' style
Casino operators will have to report on junket operators, who will require licences here By ARTHUR SIM
HIGH rollers accustomed to discreet VIP access may find themselves in the spotlight if they plan to gamble in Singapore's casinos.
The Casino Regulatory Authority (CRA) has released detailed regulations on the licensing and regulation of casino junkets here which require casino operators to make arrival reports that will include the particulars of all junket players and promoters at least one hour before any are allowed to enter the casinos.
This puts an end to gambling incognito and, more importantly, increases the level of oversight expected of casino operators here. Indeed, the regulations, which were made public yesterday through CRA's website, leave the onus of maintaining the integrity of junkets on the casino operators.
But this is not to say that junket promoters will have it easy. Junket promoters organise gambling trips for high rollers and usually earn a commission on the bets placed by their clients. Some promoters offer credit to gamblers as well as 'comps' (complimentary items such as travel and lodging) to entice clients to gamble.
To regulate the junket industry, CRA requires all junket promoters and representatives to be licensed and undergo 'investigations' which are similar to probity checks for casino licences. The cost of the checks will be borne by the junket promoters.
Licensing requirements have also been set up detailing the duties of promoters, including maintaining records of all clients, commissions, rebates and financial statements which CRA will have access to. They will also have to declare their finances on a regular basis.
As a part of the regulations, a junket agreement between the casino operator and the junket promoter detailing the terms of business including commissions must be lodged with CRA. Disciplinary action for anyone who steps out of line could include a fine of up to $400,000.
A spokesman for CRA said: 'CRA has studied the way various jurisdictions in the US and Australia as well as Macau regulate junket operations. We have also taken cognisance of Singapore's circumstances - that we are a leading financial centre with a high level of safety and security as a competitive advantage - and developed a junket licensing regime that would be suitable for Singapore's local context. The junket licensing regime is developed to facilitate a conducive environment for junkets to operate in Singapore, without compromising on law and order considerations.'
Melvyn Boey, an analyst with Bank of America Merrill Lynch, said that he is not surprised by CRA's junket regulations.
He believes the main aim of the junket regulations is to restrict money laundering and this is likely to 'deter' that segment. He also said that certain requirements by CRA, such as the disclosure of junket commissions, is similar to those in other gaming jurisdictions.
It has been reported that the crucial business brought in by junkets could elude Singapore. However, Mr Boey believes 'in-house' high rollers from the casinos' own VIP lists will account for much of the high-roller business in Singapore. 'I am not inclined to change my revenue projections,' he added. For 2011, the first full-year of operations, Mr Boey expects total gross gaming revenue from the casinos at Marina Bay Sands and Resorts World at Sentosa to hit $4 billion.
Junkets generally refer to the VIP or high-roller business segment in casinos and depending on the country, can account for a significant portion of the gross gaming revenue. UOB KayHian notes that for Genting in Malaysia, VIP gamblers accounted for 30 per cent of the total gaming revenue in 2008. In Macau, it noted that VIP gamblers accounted for 66 per cent of total gaming revenue while in Singapore, it has projected VIP gaming revenues of about 42 per cent at Resorts World at Sentosa.
UOB KayHian also said in a recent report that the 'market may be overly optimistic on Singapore casinos' high-roller revenues due to rising competition, client stickiness and potentially cumbersome disclosure requirements'.
Krist Boo, the spokeswoman for Resorts World at Sentosa, said: 'Junket operators play an important role in bringing premium gaming customers into Singapore. They are integral to Singapore's vision of making the integrated resort an international success, and we support that vision. We are working closely with both CRA and junket operators to ensure that our operators are regulated and licensed.'
Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.
Business Times - 01 Jan 2010
Las Vegas Sands mum on penalty issue
By ARTHUR SIM
THE delay of the opening of Marina Bay Sands (MBS) is likely to disappoint not only gamblers and tourists but neighbouring businesses as well. So the question of whether MBS owner Las Vegas Sands (LVS) will be held accountable, and if any fines or penalties may be levied, lingers.
When LVS won the bid to build Singapore's first casino at Marina Bay, it said that MBS would open by the end of 2009. Now, it has been revealed that the first phase will open in the second quarter of 2010. The integrated resort will open in full only at the end of 2010.
LVS could not comment on whether it is liable for fines or penalties.
A check with the Singapore Tourism Board does, however, reveal that it intends to support LVS in its opening efforts. Carrie Kwik, director, Integrated Resorts, Singapore Tourism Board said : 'For Singapore, it is important that the developers maintain the integrity of the concept of an integrated resort as envisaged, to fulfil the objective of generating tourism receipts, creating jobs and enhancing Singapore's tourism appeal. The relevant government agencies are working closely with the developers to facilitate the expedient completion of the integrated resorts.'
Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.
Las Vegas Sands mum on penalty issue
By ARTHUR SIM
THE delay of the opening of Marina Bay Sands (MBS) is likely to disappoint not only gamblers and tourists but neighbouring businesses as well. So the question of whether MBS owner Las Vegas Sands (LVS) will be held accountable, and if any fines or penalties may be levied, lingers.
When LVS won the bid to build Singapore's first casino at Marina Bay, it said that MBS would open by the end of 2009. Now, it has been revealed that the first phase will open in the second quarter of 2010. The integrated resort will open in full only at the end of 2010.
LVS could not comment on whether it is liable for fines or penalties.
A check with the Singapore Tourism Board does, however, reveal that it intends to support LVS in its opening efforts. Carrie Kwik, director, Integrated Resorts, Singapore Tourism Board said : 'For Singapore, it is important that the developers maintain the integrity of the concept of an integrated resort as envisaged, to fulfil the objective of generating tourism receipts, creating jobs and enhancing Singapore's tourism appeal. The relevant government agencies are working closely with the developers to facilitate the expedient completion of the integrated resorts.'
Copyright © 2007 Singapore Press Holdings Ltd. All rights reserved.
Junkets could give S'pore casinos a miss
(SINGAPORE)
Las Vegas Sands (LVS), which is in the midst of applying for its casino licence for Marina Bay Sands (MBS), may not have the help of junket operators when it opens in April.
Arthur Sim
Tue, Dec 22, 2009
The Business Times
(SINGAPORE) Las Vegas Sands (LVS), which is in the midst of applying for its casino licence for Marina Bay Sands (MBS), may not have the help of junket operators when it opens in April.
Junket operators help generate almost 70 per cent of gaming revenue in Macau, but LVS chairman Sheldon Adelson said: 'I don't think the (Singapore) government is going to allow any junkets,' he added.
Mr Adelson was speaking at a press conference here yesterday, where he also revealed that MBS will now open in the second quarter of 2010 instead of the first.
He did not elaborate on the junkets and whether he believes the government intends to either directly or indirectly stop operators from coming here but he did say: 'First of all, I don't think the junket reps (representatives) are going to apply for licences. There may be one or two - but the government has said they don't want the Macau style junket reps that take a very large percentage of the gross income.'
A check with the Casino Regulatory Authority (CRA) reveals there is no ban on junkets as the Casino Control Act provides for the licensing of junket operators. 'The Casino Regulatory Authority of Singapore is currently at an advanced stage of finalising the regulations which will spell out details on the junket licensing regime. Junket operators which meet the regulatory requirements under the Act and these regulations would be allowed to operate in Singapore,' a CRA spokesman said.
Mr Adelson is unfazed about the loss of junkets - even if this may increase the risks that LVS will have to assume as junket operators often provide credit to gamblers.
Saying that LVS has its own high-roller clientele, he said: 'We want to be in the business of doing business directly with players. We will supply the credit and we will take our chances on the credit and collections.'
He said LVS's high-roller clients are eagerly waiting the opening of MBS. 'There are reasons why people don't want to gamble in some places and one of the reasons is that it is against their social mores. If I go to Macau, and I am from Taiwan, some of my friends that know me can see me and I don't want them to see me. So I rather go somewhere far away where there is a lesser chance where people will see me - or maybe where the government will see me,' explained Mr Adelson.
He said that LVS currently has about 'five plane loads of two 747s' that are flying to its Las Vegas casinos with Asian high-rollers. 'Two trips come from KL, one trip from Singapore, one trip from Bangkok, one from Jakarta and one from Hong Kong. And they all say that they are waiting for Singapore to open,' he added.
Mr Adelson also said LVS expects to rake in about US$1 billion annually before deducting interest, taxes, depreciation and amortisation expenses. 'The people in the market have come out to between US$400 million and US$800 million,' he added.
UOB Kay Hian analyst Vincent Khoo does believe the market, 'has been too optimistic about the junket market'.
'Some Macau junket operators are exploring Singapore, but admit that it's tough to be approved and the business model will be inferior. I believe that Singapore will allow junkets to act as introducers and financiers, but there will be no profit sharing and they must abide by the Junket Act's strict rules. But the market seems to completely ignore this pressing issue,' he added.
Like Mr Adelson, Bank of America Merrill Lynch analyst Melvyn Boey believes junket operators will not be that important here. By his estimates, VIP clients will account for about 50 per cent of the business at the Singapore casinos. But of these VIP clients, only about 30 per cent might be expected to be brought in by junket operators with most being 'in-house VIP clients'. So even if there are no junket operators in Singapore, Mr Boey believes the impact on business is 'unlikely to be significant'.
On the delayed opening, Mr Adelson said: 'We are happy to see Genting open first.' But this will not be an advantage. He said: 'Mistakes will be made, by them or us. Let them open first and we will see what mistakes they make and we will correct them. You don't get a gold star for being the first one to open.'
(SINGAPORE)
Las Vegas Sands (LVS), which is in the midst of applying for its casino licence for Marina Bay Sands (MBS), may not have the help of junket operators when it opens in April.
Arthur Sim
Tue, Dec 22, 2009
The Business Times
(SINGAPORE) Las Vegas Sands (LVS), which is in the midst of applying for its casino licence for Marina Bay Sands (MBS), may not have the help of junket operators when it opens in April.
Junket operators help generate almost 70 per cent of gaming revenue in Macau, but LVS chairman Sheldon Adelson said: 'I don't think the (Singapore) government is going to allow any junkets,' he added.
Mr Adelson was speaking at a press conference here yesterday, where he also revealed that MBS will now open in the second quarter of 2010 instead of the first.
He did not elaborate on the junkets and whether he believes the government intends to either directly or indirectly stop operators from coming here but he did say: 'First of all, I don't think the junket reps (representatives) are going to apply for licences. There may be one or two - but the government has said they don't want the Macau style junket reps that take a very large percentage of the gross income.'
A check with the Casino Regulatory Authority (CRA) reveals there is no ban on junkets as the Casino Control Act provides for the licensing of junket operators. 'The Casino Regulatory Authority of Singapore is currently at an advanced stage of finalising the regulations which will spell out details on the junket licensing regime. Junket operators which meet the regulatory requirements under the Act and these regulations would be allowed to operate in Singapore,' a CRA spokesman said.
Mr Adelson is unfazed about the loss of junkets - even if this may increase the risks that LVS will have to assume as junket operators often provide credit to gamblers.
Saying that LVS has its own high-roller clientele, he said: 'We want to be in the business of doing business directly with players. We will supply the credit and we will take our chances on the credit and collections.'
He said LVS's high-roller clients are eagerly waiting the opening of MBS. 'There are reasons why people don't want to gamble in some places and one of the reasons is that it is against their social mores. If I go to Macau, and I am from Taiwan, some of my friends that know me can see me and I don't want them to see me. So I rather go somewhere far away where there is a lesser chance where people will see me - or maybe where the government will see me,' explained Mr Adelson.
He said that LVS currently has about 'five plane loads of two 747s' that are flying to its Las Vegas casinos with Asian high-rollers. 'Two trips come from KL, one trip from Singapore, one trip from Bangkok, one from Jakarta and one from Hong Kong. And they all say that they are waiting for Singapore to open,' he added.
Mr Adelson also said LVS expects to rake in about US$1 billion annually before deducting interest, taxes, depreciation and amortisation expenses. 'The people in the market have come out to between US$400 million and US$800 million,' he added.
UOB Kay Hian analyst Vincent Khoo does believe the market, 'has been too optimistic about the junket market'.
'Some Macau junket operators are exploring Singapore, but admit that it's tough to be approved and the business model will be inferior. I believe that Singapore will allow junkets to act as introducers and financiers, but there will be no profit sharing and they must abide by the Junket Act's strict rules. But the market seems to completely ignore this pressing issue,' he added.
Like Mr Adelson, Bank of America Merrill Lynch analyst Melvyn Boey believes junket operators will not be that important here. By his estimates, VIP clients will account for about 50 per cent of the business at the Singapore casinos. But of these VIP clients, only about 30 per cent might be expected to be brought in by junket operators with most being 'in-house VIP clients'. So even if there are no junket operators in Singapore, Mr Boey believes the impact on business is 'unlikely to be significant'.
On the delayed opening, Mr Adelson said: 'We are happy to see Genting open first.' But this will not be an advantage. He said: 'Mistakes will be made, by them or us. Let them open first and we will see what mistakes they make and we will correct them. You don't get a gold star for being the first one to open.'
Just looks like all Sinkies will need to show IC before we enter casino here and get recorded in their data base for every entry. Otherwise how they check if anyone sinkie is banned from entry? If so, statistics for every one who enter casino will be available.
What do you guys think and of the consequences if my guess is correct?
What do you guys think and of the consequences if my guess is correct?
++++++++++++++++++++
Jan 3, 2010
High stakes, high life
They're male, enjoy baccarat and bet up to $200,000 a hand. Just who are
S'pore's high rollers and what perks do they enjoy?
By Shuli Sudderuddin
THEY are usually male, they enjoy playing baccarat, and they bet anywhere from $5,000 to $200,000 a game.
That's the profile of a Singapore high roller, said casino industry players.
The reward for betting big? Casinos worldwide dangle free hotel stays and food, and for a privileged few, free flights on private jets.
High rollers were in the spotlight recently when Las Vegas Sands chairman Sheldon Adelson said they had flown from Singapore to Las Vegas casinos.
He was here to give an update on the Marina Bay Sands integrated resort (IR) which is set to open in April.
Such gamblers are highly sought after because while they may make up only 1 per cent of a casino's business, they may bring in about 20 per cent of revenue, said Mr Ramachandar Siva.
Read the full story in The Sunday Times.
+++++++++++++++++++
I think everyone will need to show identification before they are let in.
Foreigners will need to show their passport.
Locals will have their ICs scanned.
Consequence?
None of significance, the rich and the hardcore local gamblers will still turn up. People like me will be very rare visitors.
Similar threads
