Macau Gaming Laws Get a New Addition: Casino Management Companies Prohibited from Extending Credit – IAG,

The Macau Executive Council has proposed new amendments to the legal regime for the gaming industry that would prohibit management companies from extending credit to players. The announcement was made by the Secretary for Administration and Justice, Cheong Weng Chon, and Director of the Gaming Inspection and Coordination Bureau (DICJ), Adriano Marques Ho. The bill, if passed, will replace the current law on gaming credit, and only concessionaires and licensed junkets will be permitted to issue credit. The proposed law will define the obligations of these entities and the consequences for breaches of these rights. It will also introduce new provisions on the powers of supervision, public authorities, safeguards, and penalties. The bill is in draft form and will be referred to the Legislative Assembly for scrutiny and voting.

Under the current law, credit can be granted by concessionaires, sub-concessionaires, and gaming intermediaries, with management companies being able to extend credit by entering into a contract with the concessionaire. However, under the new law, only concessionaires and junkets can be creditors. The government is also planning to make comprehensive amendments to the law around illegal gambling to ensure it meets current requirements. The proposed changes have not been made in response to recent cases involving former junkets; according to Cheong, the amendments are a result of the industry’s developments. The proposed bill will provide a more comprehensive and safer environment for the gaming industry.