Only gaming concessionaires will be allowed to engage in credit extension business under a new bill expected to be enforced around April next year. The bill, proposed by the Executive Council in April of this year, aims to establish a legal framework for the granting of credit associated with games of chance.
According to the current version of the bill being reviewed by a Legislative Assembly panel, a junket operator will be permitted to enter into an agreement with the casino company it represents for credit extension, with both parties considered the sole entities involved in providing credit.
However, following a closed-door meeting with government officials lawmaker Chan Chak Mo said that only gaming concessionaires will be recognised as the sole entity responsible for this business.
“In the future, only concessionaires will be able to provide gamblers with chips, and intermediaries will no longer have the ability to do so in a personal capacity,” Chan emphasised.
Junkets will only be allowed to act as agents for gaming operators through contracts, receiving remuneration for tasks such as “guest acquisition” and “guest reception”. According to the legislator, the authorities emphasised that junkets would only have a “supporting role” to play in the future.
Under the new legislation, Macau authorities will have the legal authority to review and approve each agency partnership between gaming concessionaires and junkets. The government will also be able to require casino operators to modify the content of agency contracts based on principles of legality and public interest, Chan stressed.
