Macau: only casino operators will be able to retain player funds

Macau legislators have shed light on a proposed rule that provides criminal penalties for junkets who illegally accept deposits from the public.

Macau.- After some legislators raised concerns about a proposed rule against junket operators taking deposits, committee chairman Chan Chak Mo has clarified that neither Macau junkets nor their collaborators will be able to hold funds on behalf of gamblers. Only casino franchisees will be able to hold player funds.

Chan Chak Mo said the committee had sought further legal guidance from the government on the intent and impact of the clause, which sets a penalty of up to five years in prison for junket operators that illegally accept deposits. The feedback received was that no junket operator, their staff nor the management company could accept deposits of any kind from players, even if the deposit was non-interest bearing.

The new bill on junket businesses and satellite casinos has already passed the first reading after 30 MPs voted in favour while one voted against the bill.

Macau to revise gaming credit law

As previously reported by Focus Gaming News, authorities have announced that the current gaming credit law in Macau may also be amended to improve regulatory standards. The government said that while Law 8/96/M on illegal gambling regulates a number of gambling-related crimes and offences, it was time to update the law.

It said: “The Macau government considers … it is necessary to improve the respective legal regime to strengthen supervision and ensure the healthy and orderly development of the city’s gaming industry.”

Law 8/96/M punishes all forms of operating, promoting or supporting gaming outside of authorised venues, as well as any fraudulent or illegal gaming within authorised areas, or the provision of loans or gaming credits to customers without a licence.