Macau’s Legislative Assembly approves junket bill

The legislation will enter force in time for Macau’s new gaming concessions on January 1.

Macau.- New legislation covering junket businesses and satellite casinos has been approved by Macau’s Legislative Assembly. The bill had a first reading in April and has since undergone revisions.

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

Casino franchisees will still be allowed to provide players with an account to hold cash, chips or other payment methods for gambling purposes, but they will be prohibited from providing monetary interest on the accounts.

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

Macau’s gaming regulator may also set a maximum number of junkets that each casino concessionaire may have as a partner each year. The share capital of a junket firm should be no less than MOP10m (US$1.25m), and at least 50 per cent of this capital has to be held by a Macau permanent resident aged 21 years old or above.

Legislator José Pereira Coutinho asked during the final reading of the bill whether the gaming sector would be consulted if the government changed the current 1.25 per cent cap on rolling chip commissions for junket businesses. Lei Wai Nong, secretary for economy and finance, said the government is “open” to receiving opinions.

See also: Macau casino operators to sign new concession contracts on Friday