New Macau bill proposes sanctions for casino credit breaches

The bill would replace Macau
The bill would replace Macau

Macau’s new gaming credit law proposes fines of up to MOP5.0m (US$618,932) for casino operators.

Macau.- The new bill on casino credit and junket contracts (the Legal Regime of Credit Concession for Gambling in Casinos) aims to crack down on unauthorised parties issuing credit to gamblers. It would allow only casino concessionaires to grant credit by default. Junket operators would require a formal contract and approval from the city’s Secretary for Economy and Finance. 

The legislation outlines several sanctions for breaches of the credit law, including a maximum fine of MOP5m (US$618,932) for casino operators. Concessionaires that provide credit via an unauthorised third party or fail to establish an appropriate risk-management system could be fined between MOP2m and MOP5m. Junket operators could face fines ranging from MOP600,000 to MOP1.5m for similar offences. 

Additionally, concessionaires could be fined between MOP600,000 and MOP1.5m if they fail to gain approval from the city’s Secretary for Economy and Finance for any proposed amendment to a credit contract. Minor offences may result in fines of MOP100,000 to MOP500,000. 

The legislation, which is expected to come into force on January 1 next year, also allows the government to suspend a concessionaire’s credit licence for one to 12 months, which extends to partnering junket operators. If passed by the Legislative Assembly, the bill would replace the existing gaming credit law, Law No. 5/2004.

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