Macau\u2019s six casino operators have attended a public consultation session and asked for more information on the government’s proposed changes to the current city\u2019s gaming laws.<\/p>\n\n\n\n\n\n\n\n
Macau.-\u00a0Representatives of Macau’s casino operators<\/strong>\u00a0attended a public consultation session with authorities on the\u00a0revision of the city\u2019s gaming law<\/a>. <\/p>\n\n\n\n According to local media reports,\u00a0SJM Holdings Ltd, Galaxy Entertainment Group Ltd and Wynn Macau Ltd\u00a0<\/strong>expressed concerns about the idea of raising the minimum share capital required for the gaming companies.<\/p>\n\n\n\n Casino operators also said the government should give more details on the proposal that gaming concessionaires should be part held by a Macau resident.<\/p>\n\n\n\n Buddy Lam Chi Seng, Galaxy Entertainment senior vice president of public relations<\/strong>, asked if the possibility of electing \u201cdelegates\u201d to Macau\u2019s gaming concessions <\/strong>to have a \u201cgreater checking\u201d limit on the activity of the gaming firms could have a potential impact on gaming firms\u2019 daily operations.<\/p>\n\n\n\n Ku Mei Leng, chief-of-office of Macau\u2019s Secretary for Economy and Finance<\/strong>, answered that the public authority didn’t have any \u201cpredetermined positions\u201d on the themes, as it was still collecting opinions from the industry regarding the proposed changes.<\/p>\n\n\n\n He noted that a delegate system is already used to monitor other forms of public concession. According to previous reports,\u00a0government delegates would be sent to gaming concessionaires\u00a0<\/strong>to enable the direct monitoring of daily operations.<\/p>\n\n\n\n Linda Chen, vice-chairman and chief operating officer of Wynn Macau Ltd, claimed further guidance on the suggestion that\u00a0administrators should meet certain requirements<\/strong>\u00a0and get government endorsement before distributing profits, regardless of whether it be in cash or shares.<\/p>\n\n\n\n Chen said: “As long as the regulatory aspect as defined in this legal framework is transparent, it will be positive and good for our industry\u2019s long-term development.”<\/p>\n\n\n\n Several junket operators and respective trade associations also attended the consultation <\/strong>and asked the authorities to clarify what actions would constitute the crime of illegally accepting funds. <\/p>\n\n\n\n The recommended penalty for this type of crime is up to five years in prison or a fine. However, the government representatives present did not specifically respond<\/strong> to the junkets’ inquiries.<\/p>\n\n\n\n Alvin Chau Cheok Wa, CEO of Suncity<\/strong>, has recently said he has no fears for now about the proposed changes to Macau\u2019s gaming laws<\/a>, which aim to strengthen screening of the \u201csuitability\u201d of junkets<\/strong>.<\/p>\n\n\n\n Cheok Wa said in an interview to the Hong Kong Economic Journal: \u201cIt is not to completely bar the patrons\u2019 capital from coming here<\/strong>: if the patrons don\u2019t pay us, how are we to purchase gaming chips on their behalf?\u201d<\/p>\n\n\n\n