The Second Standing Committee of the Legislative Assembly has completed its discussions on Macau’s new junket Law with the bill to be voted on in the Legislative Assembly on 15 December.
The bill, titled “Legal Framework for Operating Games of Chance in Casinos”, sets out the rules for the operation of junkets, management companies and agents, including a stipulation that junkets and management companies can only provide services to one concessionaire each. It also outlines a three-year transitional period for Macau’s existing satellite casinos, after which time satellite casino operators will only be allowed to provide their services to a single concessionaire as a management company.
However, Committee chairman Chan Chak Mo said he does not expect current satellite operators to convert to a management company model in the short-term. “Because of the three-year transitional period for satellite casinos, I believe that there will be no management companies for the time being … only after three years,” he said.
The bill also prohibits junkets from entering revenue share agreements with concessionaires, and junkets, management companies and agents from receiving deposits from other persons for gaming or non-gaming purposes. If junkets, management companies or agents accept deposits from others for non-gaming purposes, they will be guilty of “unlawful gaming”, which is punishable by two to five years imprisonment.
If they accept deposits from others for gaming purposes, they will face a fine from the government.
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