Macau’s proposed gambling credit law is unlikely to affect existing satellite casinos, according to the deputy chairman of Success Universe Group.<\/p>\n\n\n\n\n\n\n\n
Macau.- Macau’s proposed\u00a0new gambling credit law<\/a>\u00a0is unlikely to affect existing satellite casinos, according to\u00a0Hoffman Ma Ho Man<\/strong>. The deputy chairman of Success Universe Group, an investor in Macau’s Ponte 16 gaming resort, has told GGRAsia that gambling credit issuance had already dropped significantly before the new 10-year gaming concessions<\/a>\u00a0began in January.\u00a0<\/p>\n\n\n\n Under the new bill, junket operators would need to have a formal contract for granting credit to any gaming concessionaire they tie to.\u00a0Management 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\n However, Ma Ho Man believes that the bill will have a “very limited” impact on most satellite casino operators as the majority offer cash-play mass-market gambling.\u00a0<\/p>\n\n\n\n Macau has just\u00a011 satellite casinos following regulatory changes made ahead of the new concessions. The new bill aims to clarify which entities are allowed to extend gaming credit.<\/p>\n\n\n\n It will forbid “collaborators” from issuing gambling credit. It also states that management companies cannot have management contracts with more than one gaming concessionaire and are prohibited from managing casinos’ financial activities.<\/p>\n\n\n\n The Macau government’s main goal is to “be seen as proactive in fighting capital flight out of China”, said\u00a0Bruno Ascen\u00e7\u00e3o<\/strong>, a Macau-based gaming lawyer. Ascen\u00e7\u00e3o added that “the objective is to limit the entities capable of granting credit for casino gaming”, such as gaming concessionaires and promoters, due to concerns about economic and social stability.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Macau’s proposed gambling credit law is unlikely to affect existing satellite casinos, according to the deputy chairman of Success Universe Group.<\/p>\n","protected":false},"author":176,"featured_media":22027,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's proposed gambling credit law is anticipated to have a limited impact on existing satellite casinos, according to Success Universe Group's deputy chairman. The legislation aims to formalize credit issuance through concessionaires and restrict management companies from extending credit, primarily to combat capital flight and enhance economic stability.","focusai_entities":"Success Universe Group, Hoffman Ma Ho Man, GGRAsia, Bruno Ascen\u00e7\u00e3o, Macau government","focusai_location":"Macau, China","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (0.9), payments_fraud_aml (0.7), investor_analyst (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact on Junket Model","query":"How will the formal contract requirement between junket operators and gaming concessionaires alter the historical junket business model and its revenue contribution to Macau's GGR?"},{"label":"Satellite Casino Strategy","query":"Given the restrictions on credit issuance, what strategic adjustments are the remaining 11 satellite casinos likely to implement to maintain profitability, particularly those not solely focused on cash-play mass-market?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,23790],"class_list":["post-777004680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-ponte-16"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004680","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=777004680"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004680\/revisions"}],"predecessor-version":[{"id":777004688,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004680\/revisions\/777004688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22027"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777004680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777004680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777004680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}