The Macau government plans to place greater focus on regulation of the gaming industry in 2018, including enhancement of its legal framework and strengthening of supervision on security and diversification.
The topic of regulation was a central topic of two key speeches on Tuesday with Macau Chief Executive Chui Sai On delivering his Policy Address for the Fiscal Year 2018 and Director of the Macau Gaming Inspection and Coordination Bureau, Paulo Martins Chan, the keynote speaker at the MGS Entertainment Show Summit.
“The gaming industry has undergone a transformational change since liberalisation,” Mr Chan said. “With the changing global environment, the DICJ is focused on enhancing the regulatory environment but recognizes that over regulating hinders business development. The DICJ is focusing on continuous enhancement of the legal framework under which the Macau gaming industry operates and is regularly reviewing the gaming law.”
Among the government’s major initiatives in the short term is an audit program of junkets, with agents actively meeting with junket operators this week for anti-money laundering training and “to ensure the legal compliance and financial stability of these junkets.”
Mr Chan also spoke of the DICJ’s ongoing work with the Judiciary Police in the wake of recent shooting incidents at Resorts World Manila and Mandalay Bay in Las Vegas.
The gaming regulator previously announced a raft of new security measures to be introduced to Macau including permanent metal detectors at casino entrances, a special ops team, increased crisis training of staff and the banning of large bags from gaming floors.
Speaking on Tuesday, Mr Chan added that, “The DICJ has resumed its former activity of banning certain people who are engaging in irregular activities and more than 250 people have been banned for conducting irregular activities.”
In his fiscal policy address to the Legislative Assembly, Mr Chui also addressed Macau’s gaming law, stating that the government will comprehensively review and perfect laws and regulations governing the gaming industry, including strengthening supervision and law enforcement utilizing technology and encouraging gaming operators to continue developing non-gaming businesses.