What is a junket
The junket model has dominated high-roller play in Macau and many other Asian gaming markets for decades and is also present in parts of the US regional casino industry. A junket operator recruits high-net-worth customers, advances credit to them through the operator relationship, and brings them to a partner venue. The casino pays the junket a commission, typically calculated as a percentage of the rolling chip volume the group generates.
Junkets sit at the intersection of marketing, credit, and compliance. They drive a meaningful share of GGR at venues that target the VIP segment, while also concentrating regulatory and counterparty risk.
Commission structures
The two dominant commission models are revenue share, where the junket receives a fixed percentage of the customer’s losses, and rolling chip commission, where the junket is paid a percentage of total non-negotiable chip volume regardless of win or loss. Rolling chip commission was the default in Macau for many years, with rates historically between 0.8 percent and 1.25 percent of volume.
Each model carries different counterparty risk for the venue. Revenue share aligns the junket with operator outcomes; rolling chip commission shifts variance back to the operator. Compliance frameworks in regulated Asian markets now constrain commission ceilings and require licensing of junket operators.
Why junkets matter in B2B
For land-based casinos with VIP-led revenue mixes, the junket relationship is one of the largest commercial line items on the income statement. Regulatory tightening in Macau and other Asian markets since 2022 has reduced the share of GGR generated through junkets and pushed the model toward direct VIP marketing by the casino. For online operators, true junket arrangements are uncommon, although VIP host programs and affiliate VIP recruitment fulfil a similar function. Gamblers Connect coverage of B2B casino markets includes commentary on junket policy changes where they materially affect operator economics.
Frequently asked questions about What Is a Junket?
True junket structures are uncommon in online gambling. Online operators run VIP host programs and high-stakes affiliate arrangements that fulfil a similar marketing and credit function, but the formal junket model is a land-based phenomenon.
Yes. In Macau, junket operators are licensed and subject to capital, anti-money-laundering, and reporting requirements. Other Asian jurisdictions have moved toward similar frameworks since 2022. US regulators license casino marketing agents under a separate but related framework.
Listed casinos typically disclose VIP rolling chip volume, VIP win, and the commission paid to junkets. Some disclose the junket share of GGR directly. Investor reports separate VIP from mass-market performance.
Regulatory and policy changes from 2022 onward, combined with reduced capital flow, reduced the number of licensed junket operators in Macau significantly. Revenue mix at Macau venues has shifted materially toward mass-market and premium-mass segments.