The Collaborative International Dictionary of English v.0.48:

Junket \Jun"ket\, v. t. [imp. & p. p. Junketed; p. pr. & vb.
   n. Junketing.]
   To give entertainment to; to feast.
   [1913 Webster]

         The good woman took my lodgings over my head, and was
         in such a hurry to junket her neighbors. --Walpole.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Junketing \Jun"ket*ing\, n.
   1. A feast or entertainment; a revel.
      [1913 Webster]

            All those snug junketings and public gormandizings
            for which the ancient magistrates were equally
            famous with their modern successors.  --W. Irving.
      [1913 Webster]

            The apostle would have no reveling or junketing upon
            the altar.                            --South.
      [1913 Webster]

   2. The act or process of taking a junket[3].
      [PJC]

WordNet (r) 3.0 (2006):

junketing
    n 1: taking an excursion for pleasure