Macau Introduces New Legislation on Casino Credit and Junket Agreements

The Macau government has introduced a bill that, if approved, would replace an existing gaming credit law. The proposed bill specifically requires junket operators to establish formal contracts when extending credit to players. This is part of the government’s efforts to regulate and oversee the junket industry, potentially mitigating risks associated with illegal activities and providing better safeguards for both junket operators and players. It’s important to consult official sources for the most current and accurate information on the status and impact of this bill.

André Cheong Weng Chon, speaking on behalf of the city’s Executive Council, and Adriano Marques Ho, who heads the Gaming Inspection and Coordination Bureau, have disclosed that Macau is currently drafting a new bill outlining updated regulations for junket operators that provide credit services.

Under the proposed bill, junket operators would be required to enter into formal contracts when extending credit to any gaming concessionaire they are affiliated with. However, management companies, which are non-concessionaire entities authorized to operate satellite casino venues under a concessionaire license, would be prohibited from entering into casino gaming credit contracts or engaging in any related legal activities.

If approved by the Legislative Assembly, the proposed bill would supersede the current gaming credit law, Law No. 5/2004. Cheong and Ho did not disclose specific details about the differences between the new bill and the existing law. Cheong mentioned that the government is currently evaluating the current regulatory framework related to illegal gambling and developing new legal proposals.

Cheong emphasized that the proposed bill would entail a thorough review of gaming development and illicit gambling behaviors, rather than being solely reactive to isolated criminal cases. The bill is anticipated to be submitted for deliberation to the Legislative Assembly later this year.

The proposed bill is part of Macau’s ongoing efforts to enhance the regulatory framework of its thriving casino industry and promote responsible gambling practices. It is expected to undergo thorough review and deliberation before being enacted, with input from various stakeholders including industry operators, government officials, and community members.

Macau, known as the “Las Vegas of Asia,” is a world-renowned destination for casino gaming, attracting millions of visitors from around the globe. The introduction of this new bill reflects the government’s commitment to maintaining a robust and transparent regulatory environment in the region’s thriving casino industry.