Alvin Chau Cheok Wa<\/a>, was sentenced to 18 years in prison in aggregate. The prosecution and the defence have both appealed Chau’s sentence.<\/p>\n\n\n\nMacau proposes new bill on casino credit and junket contracts<\/h2>\n\n\n\n
Andr\u00e9 Cheong Weng Chon<\/strong>, acting as spokesman for the city\u2019s Executive Council, and Adriano Marques Ho<\/strong>, director of the Gaming Inspection and Coordination Bureau, have revealed that Macau is working on a bill with new rules for junket operators offering credit.<\/p>\n\n\n\nJunket operators would have to have a formal contract for granting credit to any gaming concessionaire they tie to. Management companies<\/strong>, the non-concessionaire entities permitted to run satellite casino venues under a concessionaire licence, would not be allowed to establish a casino gaming credit contract or perform any related legal acts.<\/p>\n\n\n\nIf passed by the Legislative Assembly, the bill would replace the existing gaming credit law<\/strong>, Law No. 5\/2004. Neither Cheong nor Ho provided further details on the differences between the newly proposed bill and the existing gaming credit law. Cheong said the government was still reviewing the existing regulatory regime dealing with illicit gambling and formulating new legal proposals.<\/p>\n","protected":false},"excerpt":{"rendered":"The former head of junket operator Tak Chun Group has been ordered to pay compensation after being sentenced for fraud.<\/p>\n","protected":false},"author":176,"featured_media":26856,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Levo Chan Weng Lin, former head of Tak Chun Group, has been ordered to pay HKD779.7m in compensation to the Macau government and five casino operators following his conviction for illicit gambling and fraud. Concurrently, Macau is advancing a new bill to reform casino credit and junket contracts, mandating formal agreements and restricting credit provision by management companies. This legislative action aims to enhance regulatory oversight and governance within the gaming sector.","focusai_entities":"Levo Chan Weng Lin, Tak Chun Group, Galaxy Entertainment Group Ltd., Sands China Ltd., Wynn Macau Ltd., SJM Holdings Ltd., MGM China Holdings Ltd., Alvin Chau Cheok Wa, Andr\u00e9 Cheong Weng Chon, Adriano Marques Ho, Gaming Inspection and Coordination Bureau, Executive Council, Legislative Assembly","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.95), operator_casino (0.9), payments_fraud_aml (0.75), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.95)","focusai_suggestions":[{"label":"Junket reform impact","query":"How will the proposed gaming credit law specifically alter the operational and financial risk profiles for Macau's concessionaires, particularly concerning their B2B relationships with junket operators and management companies?"},{"label":"Regulatory enforcement outlook","query":"What further enforcement actions or legislative amendments are anticipated from the Gaming Inspection and Coordination Bureau following these high-profile convictions and the ongoing review of illicit gambling regulations?"}],"footnotes":""},"categories":[16338,439,158],"tags":[24187],"class_list":["post-777004567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-legal-news","category-slider-home","tag-tak-chun-group"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=777004567"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004567\/revisions"}],"predecessor-version":[{"id":777004606,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004567\/revisions\/777004606"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26856"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777004567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777004567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777004567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}