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Asia Casino News │ ACN东方博彩新闻

Asia Casino News outlet for Online Gaming and Gambling Industry in Asia.

Tighter controls for Macau’s casinos

January 19, 2022 Crime & LegalIndustry Updates

Macau’s Legislative Assembly has published the draft of a highly anticipated gaming law bill that gave details on the Chinese territory’s stated goal of tightening its grip on casino firms’ activities and reining in so-called junket operators.

The proposed changes, which need legislators’ approval to become law, mark the biggest reform in two decades for the world’s biggest gambling hub and lay the ground for multibillion-dollar casino operators ahead of the expiration of their licences this year.

The 44-page draft document – published in Chinese and Portuguese – comes after the government announced on Friday that the number of new licences would be capped at six and the licence term halved to 10 years.

The licences of the six operators, Wynn Macau, Sands China, MGM China, SJM Holdings , Galaxy Entertainment and Melco Resorts , are all due to expire in June.

The government has said all existing or potential operators need to apply through a new tender process. The former Portuguese colony is the world’s biggest gambling hub in terms of money wagered.

The draft bill aimed to provide clarity on the role of Macau’s junket operators, middlemen who have been tasked with bringing in high-rollers from mainland China.

If approved, casino operators would no longer have dedicated junket rooms, and revenue sharing arrangements between the two parties would be prohibited.

Macau will continue to issue junket licences to approved VIP promoters but will restrict them to only operating in one concessionaire. Previously, Macau junkets were allowed to operate in all operators with multiple rooms. This is likely to further dilute their influence.

https://www.begadistrictnews.com.au/story/7586121/tighter-controls-for-macaus-casinos/?cs=4012

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