Real Dictionary

junket
countable noun: If you describe a trip or visit by an official or businessman as a junket, you disapprove of it because it is expensive, unnecessary, and often has been paid for with public money.

junket in American English
milk sweetened, flavored, and thickened into curd with rennet
to entertain at a feast
to go on a junket or excursion, esp. one paid for out of public funds
intransitive verb: to go on a junket
noun: a sweet, custardlike food of flavored milk curdled with rennet
transitive verb: to entertain; feast; regale

junket in British English
noun: an excursion, esp one made for pleasure at public expense by a public official or committee
verb: (of a public official, committee, etc) to go on a junket