Macau Gaming Credit Bill Expected to Take Effect at the Beginning of Next Year
MACAU, SAR (November 6, 2023) — Macau lawmakers are pushing for the gaming credit bill to take effect at the beginning of next year, a lawmaker studying the details of the bill told media on Friday.
The bill seeks to ban casino management firms, such as those running satellite casinos on behalf of gaming concessionaires, extending credit to gamblers, with only junkets and concessionaires themselves allowed to do so.
“The committee is concerned about the scrutiny and regulation of bank accounts and deposits from junkets, as well as whether junkets will need to obtain licences in the future as soon as the bill is passed,” said Chan Chak Mo, a lawmaker who heads the panel of legislators poring over the bill.
The bill, which is expected to be given a second reading soon, also intends to introduce a penalty system for breaches.
According to the penalty system, a gaming company will face a fine ranging from MOP2 million (US$246,000) to MOP5 million if it carries out credit operations or qualifications through a third party.
Similarly, if a junket violates related rules, it will be subject to a fine ranging from MOP600,000 to MOP1.5 million.
SOURCE: Macau News Agency (MNA).Tags: Macau SAR, Gaming Credit Bill