Final vote on Macau gaming credit bill to be held in April

Final vote on Macau gaming credit bill to be held in April

The bill aims to establish a legal framework for granting credit for gambling.

Macau.- Chan Chak Mo, the head of the legislative panel responsible for reviewing Macau’s gaming credit bill, has announced that amendments will undergo a final vote at the Legislative Assembly in April. Introduced by the Executive Council last year, the amendments aim to establish a legal framework governing the extension of credit associated with games of chance. 

Only gaming operators will be allowed to offer credit, with junkets to be relegated to the role of agents for casino operators for guest acquisition and reception. Each partnership will have to be reviewed and approved by authorities, and the government will have the authority to modify contracts based on principles of legality and public interest.

The bill passed its first reading in May. Chan Chak Mo said a letter of dissent had been signed by several junket operators, who argue that preserving their ability to extend credit could bolster government tax revenue.

See also: Macau presents new illegal gambling legislation with tougher penalties

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