Sands China rethinking policy of direct marketing to Macau fat cats
Recently let go Sands China CEO Steve Jacobs was no fan of middlemen, specifically the junket operators that Macau casinos rely on to bring in high rollers. Under Jacobs, Sands went the direct marketing route, which earned them praise from analysts and an improved bottom line. But with Jacobs out and acting chief exec Mike Leven in, the company is doing a rethink on the long term repercussions of such an anti-junket stance. Industry estimates put the number of junket operators at 75, with the top five accounting for 80% of the VIP market. Here, puss, puss, puss… Read more.
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