Macau VIP gaming promoter bill likely to be passed by mid-November

Andrew Chan Chak Mo said the bill is likely to be passed at a Legislative Assembly plenary session in October or mid-November after a second and final reading.

Macau.- Committee chairman Chan Chak Mo says a newly-proposed article was discussed during meetings about Macau’s new junket businesses and satellite casinos bill. The new article states that casino franchisees will still be allowed to provide players with an account to hold cash, chips or other payment methods for gambling purposes but will be prohibited from providing monetary interest on the accounts.

Chak Mo said the bill is likely to be passed at a Legislative Assembly plenary session in October or mid-November after a second and final reading. Once passed, the provisions of the bill will take effect during the next round of gaming concessions, which is scheduled to begin in January.

See also: Macau announces deadline for gaming concession tender process

The bill aims to improve oversight of the industry. It would allow junket operators to each work with only one casino operator. Individuals will no longer be licensed as intermediaries; only companies incorporated in Macau. 

It also sets a penalty of up to five years in prison for junket operators that solicit or accept illegal deposits and establishes that collaborators will not be allowed to offer loans or request cash or gaming chip deposits from players, either personally or via a third party.

The bill says Macau’s gaming regulator may also set a maximum number of junkets that each casino concessionaire may have as a partner annually.