Junkets No Longer to Accept Macau Casino Deposits

“Accountability,” is the word that will best describe casino operators in Macau, the special administrative region bordering China, that is undergoing rapid reregulation of its gambling industry. The COVID-19 pandemic forced the region to look for alternative revenue sources, with most of its GDP depending on casino concessionaires.

Casinos Will Handle Deposits on Their Own
This is about to change as Macau is looking for other ways to boost tourism and introduce more transparency to the sector. Part of this concerns how casinos and customers will interact moving forward. After legislators introduced the Legal Framework for Operating Games of Chance in Casinos bill at the end of last week, one notable item in it was the rule that moving forward, it should be casinos who handle deposits by players.

In the past, junket operators could accept money on behalf of casinos and deposit with said casinos. A recent spate of legal action whereby VIP customers sued casinos successfully has made lawmakers a little more concerned about deposits not reaching their intended target, though. As a result, moving forward casinos will be the sole entities to handle casino depositors’ money without any intermediaries involved.

Source: https://www.gamblingnews.com/news/junkets-no-longer-to-accept-macau-casino-deposits/