The Macau Executive Council has announced proposed changes to the existing rules on extending credit in the gaming industry that will prohibit management companies from being creditors.
Under current laws, management companies, who operate casinos under the license of a concessionaire, can extend credit to all players who gamble in their gaming facilities.
The newly proposed rule was announced by the Secretary for Administration and Justice, Cheong Weng Chon, and Director of the Gaming Inspection and Coordination Bureau (DICJ), Adriano Marques Ho. However, the bill is still in draft form and will need to be ratified by the Legislative Assembly.
If passed, the bill will mean that only concessionaires (casinos) and licensed junkets will be allowed to extend credit to players.
Speaking to the local press Ho said:
“The bill will be referred to the Legislative Assembly for scrutiny and voting, and is still in draft form. The bill confirms that the only credit entities are the concessionaire and the gaming junkets, and that management company will no longer be a credit entity.”
During the same press conference, Cheong spoke of plans to make amendments to the laws around illegal gambling to ensure industry regulations meet current day standards.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.