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Casino management companies no longer allowed to extend credit under new amendment to Macau gaming laws

Pierce Chan by Pierce Chan
Sat 22 Apr 2023 at 07:51
Casino management companies no longer allowed to extend credit under new amendment to Macau gaming laws

DICJ Director Adriano Marques Ho (left) and Secretary for Administration and Justice, Cheong Weng Chon, at Friday’s Executive Council meeting.

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The Macau Executive Council has announced new amendments to the legal regime for the gaming industry which would prohibit management companies from extending credit to players.

The Secretary for Administration and Justice, Cheong Weng Chon, and Director of the Gaming Inspection and Coordination Bureau (DICJ), Adriano Marques Ho, announced the new law at the Executive Council on Friday afternoon, with only concessionaires and licensed junkets permitted to issue credit under the latest amendments. If passed, the bill will replace the current law on gaming credit, Law 5/2004 “Legal regime of granting credit for gambling or betting in a casino”.

The bill will not only provide that only concessionaires and junkets can be creditors, it will also re-establish their obligations and the consequences for breaches of these rights, and introduce new provisions on the powers of supervision, powers of public authorities, safeguards and penalties.

“The bill will be referred to the Legislative Assembly for scrutiny and voting, and is still in draft form,” said Ho on Friday.

“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.”

Under the current law, credit can be granted by concessionaires, sub-concessionaires and gaming intermediaries, with management companies – those who operate casinos under the license of a concessionaire – also able to enter into a contract with the concessionaire to extend credit.

At Friday’s press conference, Cheong said the government was also planning make a comprehensive amendment to the law around illegal gambling to ensure it meets current day requirements.

As to whether this is in response to the recent cases involving former junkets Suncity and Tak Chun – who have both seen former staff imprisoned this year, Cheong explained, “This law was amended because of the development of the gambling industry, not because the government is trying to amend the law in response to certain criminal cases.”

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Tags: Adriano HoCheong Weng ChonconcessionairescreditGamingJunketsMacau
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Pierce Chan

Pierce Chan

With more than five years’ experience working as a journalist in Macau, Pierce is an experienced media operator with strong skills in news writing and editing. He previously worked with Exmoo, first as a reporter covering government, gaming and tourism-related stories, then as a Deputy Assignment Editor helping set the agenda of the day. Pierce is a graduate of the University of Macau.

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