Junket

Junket: A junket is an excursion that is organized to bring a large number of players to a casino so that they will gamble, in most cases, a large amount of money. Quite often the casino will pay much if not all of the travel expenses of the players (such as transportation, room, food, beverage, as well as entertainment) in addition to giving a fee to a junket organizer. In exchange for the discounts or free gifts, the player will agree to gamble a certain amount of money over a specified period of time. Although mid-market and low-market casinos (often called grind joints, as they wish to grind their profits out of players) will have bus tours for daytime or weekend players, the term junket is usually applied to tours arranged for wealthy players by the more upscale casinos. The junkets are closely supervised by gambling regulators as well as by the casinos. Junket players are very often playing on credit lines. Junkets have been used to skim (take money illegally) from casinos. Sometimes players will use false credentials (sometimes false identities) to establish their large credit lines, and they will not play all the money advanced to them. Unscrupulous junket operators may extract fees from casinos as payoffs for illegal (unlicensed) ownership of the casino. Also junket operators may be loan sharks operating on behalf of the casinos. Where used properly, however, the junket is a very important element for marketing casino products.

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