Wynn poaches Sands' top VIP agent

Vegas casino mogul stokes competition by raising junket operators' commission to draw players to its new Macau resort

Las Vegas casino magnate Stephen Wynn, whose US$1.2 billion Macau casino resort opened this week, has poached a VIP junket operator from one of his rivals and raised marketing agents' commissions as he moves to grab a share of the enclave's high-stakes gaming market, sources say.

Veteran Malaysian junket operator Phua Wei Seng had worked in Macau exclusively for the Sands casino. His eight high rollers' tables in the private Shanghai Room accounted for about 36 per cent of Sands' US$12.84 billion in VIP chip turnover in the year to March.

Mr Phua for now will deliver high rollers to both casinos. He is also a licensed junket agent for Australia's Burswood casino and Malaysia's Genting Highlands. His Macau junket permit is up for renewal on December 31.

Mr Wynn is seeking to build a stake in Macau's HK$28 billion market for VIP baccarat in competition with former monopoly holder Stanley Ho Hung-sun, United States gaming magnate Sheldon Adelson and Hong-Kong-listed Galaxy Entertainment Group, run by the family of Lui Che-woo.

Key to the market are agents - among whom Mr Phua is a top performer - who lure in high rollers and lend them money to gamble while earning commissions on the value of the special VIP chips that their customers buy from the casino.

Wynn Resorts (Macau) was putting pressure on rivals to raise agents' base commissions by offering 1.2 per cent of VIP chip turnover, compared with the 1.1 per cent base rate at the Sands, Mr Adelson said in an interview last week.