Alleged Macau Junket Thief Huang Shan Found After 28 Months on the Run

Alleged Macau Junket Thief Huang Shan Found After 28 Months on the Run

Jason Ader, a hedge fund manager and the largest shareholder of bwin.party before it was acquired by GVC Holdings, labeled the Shan theft as Macau s Lehman Brothers moment, a reference to the investment firm that spurred the 2008-09 financial crash.Junk Squad

Unfortunately for Macau s legally operating touring companies, Shan is just one of many examples of alleged corruption and theft, though one of the costliest.

Until mid-2014, VIP junkets accounted for roughly 70 percent of Macau s gaming revenues. With billions of dollars in the mix, the theft temptation was simply too much for some to resist.

Last fall, Wynn Resorts said a junket company cheated its Macau venue out of $43 million.

has led to the closing of many smaller touring operators.

Today, the industry is controlled largely by Suncity Group, Tak Chun Group, and Neptune Group. But they too are struggling to continue attracting high-roller clients. Neptune said it lost more than $130 million in 2015.

So just how rich do you have to be in order to travel to Macau with a VIP junket group?

On the Suncity website, packages with transportation (economy airfare, limousine, and ferry) start at HKD 500,000 ($64,500). Customers receive a 0.6 percent cash rebate, 0.1 percent expense allowance, deluxe accommodations, and $64,500 worth of promotional casino chips.

The minimum amount of the first deposit capital, HKD 200,000 or more, is required to participate in the cash rebate scheme, Suncity clearly states on its website.

Its most premium offering, The Supreme Travel Package, costs $644,600.