(Lei dos) junkets
dec24
A new collaboration model has recently surfaced between gaming concessionaires and junkets, with the latter gradually integrating into the operations of gaming parlours directly managed by the operators, a local junket trade representative said.
In an interview with the Hong Kong newspaper Ming Pao published on Monday, U Io Hung, president of the Macau Gaming Promoter Professionals Association, noted the “progressive integration of operations” between those parlours managed by gaming operators and junkets.
“The past two months have seen this trend take form and are projected to persist,” the junket trade group’s president remarked. “It is expected there will be an increasing involvement of junkets in the operation of these directly managed parlours.”
Under the city’s revised casino gaming regulations, each junket—officially known as a gaming intermediary—is now restricted to partnering with one gaming concessionaire and is prohibited from running its own VIP rooms in casinos. The role of junkets has shifted to earning commissions for promotional services, contrasting with the prior practice of revenue sharing with concessionaires. They are also banned from issuing credit to any gamblers in Macau casinos.
Thus, the conversion of former junket VIP rooms within casinos into directly managed parlours for premium mass gaming or direct VIP segments has been a trend among gaming operators in the past few years.
U highlighted that this fresh collaboration model between gaming concessionaires and junkets has undergone trial runs at two venues operated by Galaxy Entertainment Group and Melco Resorts & Entertainment. The results from this new model so far have been “very positive,” with the industry closely monitoring the long-term evolution of this partnership, he remarked. “This approach of integrated operation… notably boosts business for junkets,” he added.
https://www.macaubusiness.com/new-collaboration-model-emerges-between-gaming-operators-and-promoters-junket-rep/
dec24
The Macau government estimates that in 2025 it will collect MOP100 million (US$12.5 million) in taxes on commissions that are paid by casinos to junkets, a 233.3-percent increase from the MOP30-million take in such taxation the government expects it will receive for fiscal-year 2024.
The information was disclosed in an opinion report on Macau’s financial-year 2025 budget plan published by the city’s Legislative Assembly. The opinion report has cited the Macau government explanation on their estimated income and public expenditure items for the coming year.
The report however does not include any justification for the government’s expected increase in taxes on junket commissions for the coming fiscal year.
In 2023, the Macau government collected MOP62.58 million in taxes on commissions paid by casinos to junkets, nearly 526-percent higher than its estimated MOP10 million in such taxation for that fiscal year, according to the city’s 2023 budget execution report submitted to the assembly.
Junkets – also known as gaming promoters – are licensed by the Macau government to promote VIP gaming in the city’s casinos.
https://www.ggrasia.com/macau-eyes-233pct-jump-in-2025-junket-commission-tax-take/
out24
Macau’s gaming regulator, the Gaming Inspection and Coordination Bureau (DICJ), has reported an increase in licensed junkets and approved agents following the implementation of the amended gaming laws dedicated to gaming promotors’ activity.
According to DICJ data, the number of junkets in Macau has risen to 24, up from 18 at the start of the year, while the number of approved agents has grown to 12. The amended law has introduced several changes, including a requirement for each licensed junket to work with only one concessionaire, a ban on revenue-sharing agreements, and a cap on commissions at 1.25% of rolling.
The new regulations have also established minimum capital requirements for junkets, agents, and casino management companies. Junkets must provide a guarantee of MOP1.5 million, agents must have MOP500,000, and casino management companies must have MOP1.5 million. Additionally, gaming intermediary companies must have a registered capital of at least MOP10 million.
Earlier this year, the number of licensed junkets had fallen to 18, down from 35 in 2023. However, recent figures show that this number has now risen, with new additions such as VEGA STAR Ltd and Companhia De Ensemble Ltd. The DICJ has announced that the maximum number of junket licenses on offer in 2025 will remain at 50, the same as this year. VC
https://macaudailytimes.com.mo/junket-landscape-evolves-and-grows-with-new-licenses-and-tighter-regulations.html
set24
Macau’s new law regulating the issuance of credit for casino gambling – in effect from August 1 – is likely to weaken the business appeal of the city’s junket operators to high-roller players, and such customers might be lost to the Macau casino sector as a whole.
So suggested veteran junket boss U Io Hung, in comments to GGRAsia. Mr U is also the president of the Macau Gaming Promoter Professionals Association.
The law Mr U refers to, titled “Legal regime of credit concession for games of chance in casinos”, says casino concessionaires are the only entities permitted to provide gambling credit to patrons in the Macau market.
Until the new law came into effect, Macau’s licensed junkets had been allowed – in their own name – to extend credit to gaming patrons, provided the junket concerned had signed a contract with its partnering casino concessionaire specifically for that purpose.
The new rules “definitely have an impact” on local junkets’ ability to appeal to high rollers that opt for credit play, Mr U remarked to GGRAsia.
https://www.ggrasia.com/bet-credit-changes-weaken-macau-junket-appeal-rep/
set24
The Macau junket sector is in talks with the city’s casino concessionaires in an effort to “level” the VIP-market playing field in terms of what incentives can be offered to high-value players.
The updated gaming regulatory system, coinciding with the new Macau concession system that started in January 2023, severed the traditional link between the city’s junket trade and issuance of player credit. But veteran junket-sector boss U Io Hung (pictured) told GGRAsia in an interview, that there is still an important role for junkets: having access to a network of contacts to bring to Macau casinos, players that might not otherwise be recruited by the industry.
But for that to happen, there needs, he said, to be a rebalancing of business ground rules applicable to the house, and to Macau’s licensed gaming promoters, commonly known as junkets. Mr U is president of the Macau Gaming Promoter Professionals Association, a trade organisation.
https://www.ggrasia.com/junket-rep-says-vip-trade-odds-stacked-towards-macau-ops/
ago24
The president of the Macau Professional Association of Gaming Promoters, U Io Hung, expressed his shock to AGB following a recent reminder issued by the DICJ, which emphasized that junkets must ensure their administrative management members and employees wear work permit badges issued by gaming operators while performing duties in the casino. Failure to comply could result in fines ranging from MOP100,000 ($12,430) to MOP500,000 ($62,150).
U Io Hung highlighted the substantial burden these fines could impose on junket operators, especially given the current commission structure. He noted that junkets earn around MOP1,250 ($155) for every MOP100,000 ($12,430) in rolling chip turnover.
To cover a maximum fine of MOP500,000, a junket would need to generate MOP40 million ($5 million) in rolling chip turnover, not accounting for other operational expenses. Even the minimum fine of MOP100,000 would require a turnover of MOP8 million ($1 million).
https://agbrief.com/intel/deep-dive/23/08/2024/junkets-rep-doubts-hefty-fines-up-to-62k-for-not-using-work-badge/
DEZ23
A number of lawsuits are pending against gaming concessionaires after clarification of whether they are jointly and severally liable for players’ deposits, say Bruno Almeida and Paulo Alves Teixeira of Riquito Advogados
In 2021, the pressure on the Macau gaming industry reached a historic high with the arrest of the heads of the city’s two largest gaming promoters (commonly known as ‘junkets’) following months of police investigations. Although two years have since passed, the consequences of those events continue to be felt.
Recently, a number of lawsuits have been filed in the Macau courts against those two gaming promoters by players who claim to have deposited money with them and to have been unable to withdraw it since their collapse. This type of litigation is not unprecedented. One of the most notable lawsuits of this kind was filed against Dore Entertainment in 2015, which had been one of the largest junket operators in Macau until it collapsed after a former employee reportedly absconded with almost HK$700 million.
The matter under dispute in that lawsuit was whether casino companies could be jointly and severally liable for the actions of the junket operators they engaged in business with. In November 2021, the Macau Court of Final Appeal ruled in favour of one of the affected gamblers and ordered Dore Entertainment to repay their deposit in the amount of HK$6 million, while clarifying that Wynn Macau, the owner of the casino where Dore Entertainment had operated, was jointly liable.
While this interpretation of the law was upheld by the same court in a second, more recent ruling, the matter is yet to be fully clarified by courts and the following question remains unanswered: will gaming concessionaires be at all times jointly and severally liable with junket operators, regardless of the type of liability and/or the nature of the obligation in question and/or whether the harmful event has taken place within the concessionaire’s premises?
Although such rulings may hint that the general understanding of the higher courts is that joint and several liability may only apply in certain cases, the question seems to have been put to rest with the publication of the new legal framework for the operation of casino games of chance with Law 16/2022. The law includes a provision that clarifies that concessionaires are only jointly and severally liable for deposits made with junket operators if:
They have concession rights over the casino where the deposit was made; and
Those deposits were used for betting on, or won from, games of chance.
Aware of the financial troubles faced by junket operators, players have been directing their attention towards gaming concessionaires and the merits of their claims will ultimately be decided on a case-by-case basis. Several lawsuits of this kind are pending in the Macau courts, some of which have been initiated simultaneously against all concessionaires, irrespective of the plaintiff (player) having made deposits or placed bets in their casinos or not.
juk24
Macau’s casino regulator, the Gaming Inspection and Coordination Bureau, says it has launched an investigation against unlicensed individuals that are said to be engaging in activities that are akin to a VIP gaming promoter, known as junkets. These so-called unlicensed agents were found during routine checks at the city’s casinos, said the regulator in a Wednesday social media post.
The bureau did not specify when or in which casinos it had conducted its most recent checks.
The casino regulator said the checks were aimed at monitoring the business in the VIP and mass gaming areas at the city’s casinos, and were aimed at preventing unlawful activities, such as “multiplier” bets and revenue split arrangements at VIP rooms, as well as to monitor whether those engaged in gaming intermediary services hold valid licences.
https://www.ggrasia.com/macau-regulator-probes-unlicensed-gaming-agents/
Macau’s gaming regulator has reiterated its call for compliance with existing regulations governing casino activities, following the discovery of unlicensed junket activities during recent inspections.
In a post on WeChat on Wednesday, the Gaming Inspection and Coordination Bureau said it would take preventive measures to prevent those suspected of engaging in such activities from entering casinos.
Such activities were said to have been discovered during “special inspections and audits” carried out in recent days.
Under the new rules, which are due to take effect next month, only the six gaming operators will be able to act as creditors in a legal sense.
https://www.macaubusiness.com/unlicensed-junket-activities-found-in-recent-dicj-operations/
jul24
Suncity Group, the former prominent junket company in Macau, took to Facebook to reflect on its contributions to the city amidst ongoing legal challenges faced by its former executives.
Alvin Chau, the former CEO of Suncity Group, was sentenced to 18 years in prison following a trial in 2022-2023 centered around under-the-table betting and illicit online gaming operations.
The company itself terminated its operations in the Macau SAR after the arrests of its management, with its assets auctioned by authorities to pay for compensation demands.
However, the group’s remaining Facebook page has suddenly issued a heartfelt post – the first since November 2021 – in which the Suncity Group addressed former colleagues and friends, reflecting on its connection to Macau and contributions to the city.
https://www.macaubusiness.com/former-suncity-group-defends-contributions-to-macau-sar-in-social-media-statement/
jul24
The number of licensed gaming promoters – also known as ‘junkets’ – to be permitted in the Macau casino market during 2025 is to be capped at 50, according to information from the city’s casino regulator, the Gaming Inspection and Coordination Bureau (DICJ).
That will leave the permitted maximum unchanged from the current year. In practice, presently under half the permitted quota is actually taken up by entities wishing to act as gaming promoters. As of June 11 – the latest update available online from the regulator – Macau had 22 licensed junkets.
Macau’s gaming law framework – including a statute specifically applicable to junkets – also requires a cap on the number of junkets that each of the city’s six casino operators can work with. That cap varies from operator to operator, at the discretion of the city’s Secretary for Economy and Finance.
The latest information shows that for 2025, such caps on junket-partner numbers applied to operators will remain the same as for 2024. For this year and next, Sands China Ltd and SJM Holdings Ltd have the largest allowance: 12 junkets each.
https://www.ggrasia.com/macau-govt-to-keep-cap-on-junket-numbers-at-50-for-2025/
ap24
The Legislative Assembly of Macau’s approval of gaming credit legislation, which prohibits junkets from extending gaming credit, is viewed as a significant step towards aligning with public policy in China and Macau.
In an interview with AGB, industry veteran Fredric Gushin endorsed the legislation, stating, “There are unique issues in China because gambling debts are not legal, making the credit decision more important. The junkets operated in an old-fashioned, underground manner, which was inconsistent with public policy in China, Macau, and indeed the world.”
Gushin believes that casinos should be responsible for everything that occurs within their premises, hence “the concept of junkets performing critical casino-related functions is inconsistent with that.”
He also noted the cessation of junkets owning the cage (physical cashier counters on casino floors), likening it to the gaming credit legislation.
The recent legislation, formally titled the “Legal Regime for Granting Credit for Games of Chance in Casinos,” was unanimously approved by the Legislative Assembly of Macau last Friday and is set to take effect on August 1st of this year.
This legislation mandates that only gaming operators can extend chips to gamblers as credit, while junkets are prohibited from engaging in credit activities. However, gaming operators have the option to enter into agency appointment contracts or agency outsourcing contracts with junkets, allowing them to assist in finding gamblers seeking credit and earning commissions in the process.
Additionally, any changes to agency contracts between gaming operators and junkets, along with their supplementary documents, must receive approval from the Secretary for Economy and Finance of Macau.
https://agbrief.com/intel/deep-dive/17/04/2024/banning-macau-junkets-from-insuring-credit-aligns-with-public-policy/
mar 24
A crackdown on junkets in Macau and further afield in places like Australia has seen organized crime gangs shift their activities to Southeast Asia, where there has been a huge increase in the number of illegal land-based and online casinos in recent years. We take a look at the issue.
In a recent presentation at the annual Regulating the Game conference held in Sydney in mid-March, Amanda Wood – Managing Director for Forensic Investigations and Intelligence at Kroll – said it had been “absolutely essential for junket operators in Macau to have some kind of relationship with a triad group.”
But the strong actions taken by the governments of China, Macau and Australia against junket operators have only served to create a new dilemma for those observing the movements of organized crime groups worldwide.
In a January report by the United Nations Office on Drugs and Crime (UNODC), it was noted that years of progressive enforcement and regulatory efforts – targeting cross-border cash movement, the casino industry and related money laundering – had seen these groups “revolutionize” the crime environment in Asia and specifically in Southeast Asia, where much of their focus has shifted to.
This is led in part by casino and junket operators, who the UNODC says have effectively become bankers for organized crime. “Many casinos and connected businesses like junkets have physically relocated into autonomous areas and Special Economic Zones across the region that, in some instances, have become safe havens and breeding grounds for criminal networks,” according to comments from UNODC Regional Representative Jeremy Douglas.
While Macau was once the epicenter for those linked to junkets, the focus now is almost entirely on Southeast Asia and specifically the famed Golden Triangle region where the borders of Myanmar, Thailand, Laos and mainland China convergehttps://www.asgam.com/index.php/2024/03/28/a-new-threat/
mar24
The Legislative Assembly says it will reexamine a proposed bill that would ban junket operators from directly granting credit to punters in light of strong opposition from promoters, Asia Gaming Brief reports.
Chan Chak Mo, president of the second standing committee of the Legislative Assembly, confirmed that a letter of opposition from junket operators had prompted the committee to take a closer look at the legislative revision – which is expected to pass into law next month.
In the letter, the junket operators reportedly argued that their being allowed to grant credit to players was “effective,” contributed to the SAR’s gaming tax revenues, and should be maintained.
In its current state, the new law would closely regulate credit extension activities in casinos. Players seeking credit would only be able to apply to a concessionaire, a process that could take weeks. Junket operators – who are currently permitted to grant credit directly – would be punished with fines of up to 1.5 million patacas (US$185,000) for violating the rule.
According to Asia Gaming Brief, the government originally proposed the revision last December for reasons of “risk” and “healthy development of the gaming industry”.
Macao’s authorities have been cracking down on the junket sector in recent years, following the arrest of major industry figures such as Suncity’s Alvin Chau and Tak Chun Group’s Levo Chan.
https://macaonews.org/news/business/macau-gambling-credit-law-junkets-casinos-macao/
mar24
Os promotores de jogo escreveram uma carta à Assembleia Legislativa para manifestar a sua oposição à proposta da nova lei de concessão de crédito para jogo, que prevê a exclusão dos mesmos como concedentes de crédito. A respectiva inelegibilidade passou a ser incluída no diploma apenas depois da sua aprovação na generalidade. Os promotores de jogo defendem que a prática actual é eficaz e pode contribuir para aumentar as receitas de jogo. O diploma deverá ser submetido ao plenário para apreciação na especialidade no próximo mês.
https://pontofinal-macau.com/2024/03/20/al-recebeu-carta-de-promotores-de-jogo-contra-possivel-desqualificacao-de-concessao-de-credito/
mar24
Macau’s Legislative Assembly is expected to give a final reading in April to a previously-announced bill amending rules on casino-issued credit for gambling, said on Tuesday Chan Chak Mo (pictured, right), head of a standing committee of the Macau Legislative Assembly tasked with scrutinising the measure.
His remarks followed a closed-doors committee meeting. Mr Chan said he had no information as yet on when the city’s government might opt to pass into law the measure, titled “Legal regime of credit concession for gambling in casinos”.
Mr Chan’s committee had discussed on Tuesday the latest government draft of the bill.
According to Mr Chan, It has few changes from the previous draft, which was circulated amongst legislators in December.
He explained, referring to the update: “In this text, there are just some minor additional clauses that detail the casino concessionaires’ responsibilities for issuing gambling credit.”
According to Mr Chan, they outline Macau casino concessionaires should establish a “standard operating procedure” when issuing gambling credit, which should include details about the staff handling the task, and what those staff are authorised to do.
The fresh clauses are in Article 8 – “the general duties of the credit grantor” – which state that the gambling credit issuer should establish an “appropriate risk control system” for their business, as well as to maintain a “clear” record of such credit and for there to be a duty of confidentiality by the issuer toward the creditor, according to Mr Chan.
The updated draft keeps in place the government proposal that casino concessionaires should be the only entities permitted to issue credit to gaming patrons in the Macau market, according to Mr Chan. His fellow legislators on the commitee have also accepted this proposal, he noted in comments to local media after the meeting.
The city’s licensed junkets, known officially as gaming promoters, will not themselves be allowed to issue credit to any gamblers, assuming the bill becomes law.
Mr Chan said that under the bill, a Macau junket would only be able to request a partnering casino concessionaire to extend gaming credit to that junket’s players. Such an arrangement would also require a notarised contract – approved by the city’s Secretary for Economy and Finance – Mr Chan noted in his Tuesday comments.
U Io Hung, a veteran Macau junket boss, noted on Tuesday to GGRAsia that – in his view – the current gaming credit law, under which junkets are also a recognised gaming credit grantor, had been a “viable” regulatory framework.
“The new proposal could potentially give rise to a new problem, by driving the gaming credit business underground,” Mr U remarked to GGRAsia.
https://www.ggrasia.com/macau-bet-credit-bill-final-nod-maybe-april-legislator/
What about the VIP? So, the VIP now I think has been really interesting because you’re going from the junket operator VIP, which is actually quite difficult for the casinos. They weren’t making a hell of a lot of money out of that, because the huge commissions to the junkets.
So this VIP now, a lot of the growth is coming from premium mass and in-house VIP programs. And those programs are very attractive to ex-junket players, they’re moving over to the casino in-house. There’s now heightened competition between the casinos to bring in those players to their property versus the competition – with huge offerings of comps: great suites, great F&B and travel etc, all different options.
And it’s far more profitable for the casino because it doesn’t have to give away of massive commissions to junkets and I believe that a lot of the customers will enjoy it a lot. Given the fact that they will be really well pampered. Oftentimes the junket experience was not of the luxury type. I’ve often seen, in VIP junket rooms, the junk operator getting takeout food brought in and putting it on our fancy plates to keep their costs down.
Macau has had 20 years of the past concessions and sub concessions, and then we’re now one whole year under the new gaming licenses. So, we do have these legacy players. It’s not like Macau is a fresh new market that’s never been explored before.
Basically, those players, a lot of them are there and have been there for a long time, though, and didn’t want to be recognized. We realized in some of the operations over the years that certain players did not want to join our VIP programs. They didn’t want to be identified.
And if they had their player cards, they would discard them before they returned home. There were great incentives there, they would get percentage, cashback – or comps, I should say. But (with) a very low percentage in some of our premium mass areas, offers were taken up with these players. So, for example, talking about maybe 7 percent of the players in the premium mass areas were taking up the VIP cards. Now, I think that’s changing.
There is also a change in terms of how they can get lines of credit as well because junkets are no longer allowed to provide lines of credit to the customer. So, only the casino can do that. It’ll be interesting to see how that then affects everything moving forward.
I think there’s a lot more transparency now. And I believe that mainland China, and their policy with issuing of visas, will change significantly now that the junkets have been taken out of the picture. I think they’ll feel there’s a lot more control, there’s a lot more regulation. And they feel far more comfortable with their citizens coming and having a leisurely gambling experience, as opposed to some extreme gambling experiences that were witnessed with some of these junket customers.
A number of lawsuits are pending against gaming concessionaires after clarification of whether they are jointly and severally liable for players’ deposits, say Bruno Almeida and Paulo Alves Teixeira of Riquito Advogados
he crackdowns from authorities seem endless, leading the market survivors to lose hope.
Speaking to AGB, Junket Association head Kwok Chi Chung laments the recent government legislative proposal to ban the city’s licensed junkets from issuing credit to casino gamblers.
In mid-December, the Macau government proposed amending a draft bill titled “Legal Regime of Credit Concession for Gambling in Casinos.” The amendment suggests that junkets, officially known as gaming promoters, would no longer be allowed to have a credit-supply role.
https://agbrief.com/news/macau/24/01/2024/macau-junkets-facing-extinction/
O novo regime jurídico da concessão de crédito para jogos de fortuna ou azar em casino, actualmente em análise pelos deputados da segunda comissão permanente da Assembleia Legislativa (AL), constitui “o último prego no caixão” para o sector os junkets em Macau. A ideia é defendida pelo advogado Rui Pinto Proença, que foi um dos oradores na conferência de ontem promovida pela Fundação Rui Cunha (FRC) a propósito do balanço do primeiro ano após a entrada em vigor das novas concessões de jogo às seis operadoras.
“A grande questão que se coloca relativamente à lei sobre o crédito ao jogo é saber se os junkets serão proibidos de conceder crédito ao jogo. Esta questão não constava da proposta de lei original apresentada à Assembleia, mas sabemos que está a ser considerada. Na minha opinião, este é o último prego no caixão da indústria de junkets, mas provavelmente não terá um grande impacto no que diz respeito às receitas dos operadores”, destacou.
In the second part of the Face to Face sit down with 2NT8 Limited’s Managing Director Alidad Tash, we delve into the shifting role of Macau’s junkets, the frontloading of non-gaming spend – now upped to nearly $16 billion over 10 years, and how to align government and private-sector initiatives to benefit both. In addition, RFID tech is placing MGM China far ahead of the competition.
The slash in the number of Macau’s junkets is in line with the city’s development on economic transformation.
Macau has again seen a reduction of licensed junkets this year after figures from the government show the number of gaming promoters has been slashed to 18.
The figure represents 50% of 2023’s numbers, according to information from the Gaming Inspection and Coordination Bureau (DICJ).
The latest reduction comes after the government enforced the largest gaming law overhaul in Macau’s history, as well as the junkets law, which states that junkets can no longer engage in revenue sharing arrangements with concessionaires.
Gaming scholar Davis Fong said the decrease in gaming junket licensees is a normal market adjustment.
He said it is expected the relevant numbers will not change much, adding the positioning of the gaming industry towards the mass market is in line with Macau’s positioning as a world tourism and leisure center and is suitable for the mid- to long-term development of Macau’s gaming.
Kwok Chi Chung, a board member of the General Association of Administrators and Promoters for the Macau Gaming Industry, echoed similar sentiments, noting the reduction of junkets is “reasonable and normal.”
Of Macau’s 18 currently-licensed gaming promoters – entities also known as “junkets” – only three are new to market, with the rest being existing junkets that have operated for some time in the city and have sought licence renewal, say respectively Macau junket veterans U Io Hung and Kwok Chi Chung in comments to GGRAsia, based on their review of the latest roster published this week.
The tally is much lower than the Macau government’s cap of 50 for the whole market – which Mr U and Mr Kwok say indicates many formerly in the sector lost interest in trying to keep going, amid high operational costs, coupled with a stringent regulatory environment.
Of Macau’s 18 currently-licensed gaming promoters – entities also known as “junkets” – only three are new to market, with the rest being existing junkets that have operated for some time in the city and have sought licence renewal, say respectively Macau junket veterans U Io Hung and Kwok Chi Chung in comments to GGRAsia, based on their review of the latest roster published this week.
The tally is much lower than the Macau government’s cap of 50 for the whole market – which Mr U and Mr Kwok say indicates many formerly in the sector lost interest in trying to keep going, amid high operational costs, coupled with a stringent regulatory environment.
Mr U, president of trade body the Macau Gaming Promoter Professionals Association, told GGRAsia: “There were junket operators that no longer had the will to work in this market because they got old, or they did not have enough people to take up the business.”
https://www.ggrasia.com/macau-junkets-drop-out-weighed-by-costs-rules-reps/
The total number of licensed gaming promoters in Macau – also known as ‘junkets’ – was halved over the past 12 months. The fall marks the 11th consecutive year of decline in the number of licensed junkets in the Macau market, showed the official data.
The total fell from 36 in January 2023, to 18 this year, according to the latest updated list of licensed operators published by the city’s gaming regulator, the Gaming Inspection and Coordination Bureau. The announcement did not explain the reasons leading to the decrease.
A Macau government legislative proposal to have the city’s licensed junkets banned from themselves issuing credit to casino gamblers would if realised be a “huge blow” to the already much-diminished sector, said veteran junket boss U Io Hung, in comments to GGRAsia.
The local government has proposed amending a draft bill titled “legal regime of credit concession for gambling in casinos”, so that junkets – known officially as gaming promoters – would no longer be allowed such a credit-supply role.
If passed, the once-prominent junket sector would face a “huge blow”, said Mr U, president of the Macau Gaming Promoter Professionals Association.
The Macau government is proposing that the city’s licensed junkets are banned from themselves issuing credit to any gamblers using the local casinos.
That is according to comments on Friday by Chan Chak Mo (pictured in a file photo), head of a standing committee of the Macau Legislative Assembly tasked with scrutinising a draft bill on the topic.
He was speaking to media after a closed-doors meeting of the committee held at the assembly building.
Macau’s Legislative Assembly gave in May a first nod to a new bill on casino concessionaire- and junket-issued credit for gambling. The bill has since been under review by Mr Chan’s committee.
The original bill, titled “legal regime of credit concession for gambling in casinos”, stated that only casino concessionaires and junkets would be permitted to issue credit. Though it proposed that junkets had to have a formal contract for the purpose of granting credit, with any gaming concessionaire they tied to.
https://www.ggrasia.com/macau-govt-now-wants-ban-on-junkets-issuing-player-credit/
Only gaming concessionaires will be allowed to engage in credit extension business under a new bill expected to be enforced around April next year.
The bill, proposed by the Executive Council in April of this year, aims to establish a legal framework for the granting of credit associated with games of chance.
According to the current version of the bill being reviewed by a Legislative Assembly panel, a junket operator will be permitted to enter into an agreement with the casino company it represents for credit extension, with both parties considered the sole entities involved in providing credit
https://www.macaubusiness.com/credit-extension-business-to-be-confined-to-gaming-concessionaires-only/
The Macau government collected in 2022 only MOP3.5 million (US$434,570) in taxes on commissions that are paid by casinos to junkets, a 92.5-percent decline from the MOP46.5 million collected in 2021.
The government had estimated that in 2022 it would collect MOP43.0 million in such tax, according to its budget for that year.
The actual figure was disclosed in the government’s 2022 budget execution report, submitted this month to the city’s Legislative Assembly.
The Macau government has made public the maximum number of licensed gaming promoters – also known as ‘junkets’ – that each of the city’s casino operator will be able to work with in 2024. The aggregate number is capped at 50, according to information disclosed by the city’s casino regulator, the Gaming Inspection and Coordination Bureau (DICJ).
The convictions of the heads of Suncity and Tak Chun, the two largest junket operators in the Macau SAR, has had a “massive impact” in Southeast Asia as VIP gaming promoter networks shifted operations to countries within the region, the Regional Representative of the United Nations Office on Drugs and Crime (UNODC) for Southeast Asia and the Pacific told Asia Gaming Brief.
After facing severe hardship, Macau’s VIP segment is poised to attract new investors, potentially leading to a growth in the number of junket licensees.
Speaking to AGB, U Io Hung, the president of the Macau Professional Association of Gaming Promoters, revealed that new investors are in the process of preparing the necessary documents for submission to the Macau gaming regulator to apply for junket licenses. He believes that this could result in an increase in the city’s number of junket operators in the coming months.
As of now, applicants are required to submit the necessary documents to the Gaming Inspection and Coordination Bureau (DICJ) by September 30th.
According to information from the Secretary for Economy and Finance, each junket licensee is required to provide a guarantee of MOP1.5 million ($186,000), with the highest junket commission rate being capped at 1.25 percent of the total net rolling amount. The minimum corporate capital required is MOP10 million ($1.24 million).
Macau’s junket sector has witnessed an 85 percent decline over the past decade, with only 36 operators registering this year.
Macau’s casinos reached their peak in 2014, with gaming revenue exceeding $45 billion, three times that of Las Vegas. In the previous year, 235 junket operators had registered to operate under licenses in Macau, collectively contributing around 60 percent of the casino revenues
VIP revenue rebounds
U also notes that the anticipated increase in the number of junkets is a response to the rapid rebound in gambling revenues. While Macau’s VIP business share (VIP baccarat) accounted for only 26 percent of Macau’s gross gaming revenue (GGR) in the first half of the year, casino GGR increased by 263 percent in the first seven months of the year compared to the previous year, reaching MOP96.80 billion ($12 billion).
Kevin Kelley, chief operating officer, Macau, at casino company Galaxy Entertainment Group Ltd has confirmed to GGRAsia that as of last week, the business was still only working with the one junket partner already identified to the media.
“We’ve just activated our junket business… on the 18th of June, so we’re just starting to ramp back up,” said Mr Kelley (pictured in a file photo). He was speaking to GGRAsia on the sidelines of the Global Gaming Expo (G2E) Asia trade event in Macau.
MGM China President and Chief Operating Officer Hubert Wang said Tuesday that Macau’s junket operators are contributing as little as 3% to gaming revenues in his properties in 2023, and even less profit, as focus turns to the mass and premium mass segments.
Speaking exclusively to Inside Asian Gaming after taking part in a panel discussing the future trends of Asia’s integrated resorts, Wang confirmed that MGM’s reliance on junkets was negligible in 2023 following significant changes to the way the VIP industry is regulated under Macau’s revised gaming law.
As previously reported by IAG, these changes include an end to both revenue share agreements between junkets and concessionaires, and to junkets running their own VIP rooms in Macau casinos.
The President of the Macau Professional Association of Gaming Promoters, U Io Hung, says there are now around 13 or 14 gaming junkets operating in Macau, an increase from the eight he revealed were operational in March.
Speaking at a seminar exploring the development of Macau’s gaming industry on Saturday, U Io Hung said, “After the new gaming law and the gaming junket law came into effect, there now is less room for junkets to survive and the recovery of VIP gaming business in Macau is not satisfactory.
Veteran VIP gambling trade representative Kwok Chi Chung has confirmed to GGRAsia that a Macau-based and -licensed gaming promoter – or ‘junket’ – controlled by him, has access to a VIP-play gaming zone at the Galaxy Macau casino resort in Cotai.
The high-stakes zone is called Yinzuan Club (pictured) in an upstairs level of the Galaxy Entertainment Group Ltd property, near the Diamond Lobby.
“Our launch is at a time when the Macau market has already seen a few junkets getting active,” said Mr Kwok.
https://www.ggrasia.com/macau-based-junket-at-galaxy-macau-vip-gaming-zone/
According to Luiz Lam, former director of the Macau Association of Gaming and Entertainment Promoters, there are only 12 to 13 junkets out of 36 in operation, and half of them have shifted from the mainland Chinese source market to Hong Kong.
Since the crackdown on junkets, survivors have struggled to make a living in their existing markets. Luiz Lam, an industry insider, told AGB that even after lifting all the COVID-related restrictions, the current circumstance left the junkets high and dry. “The market shift is tough as the criminal law in China was revised aiming to Macau’s junkets,” he notes.
Lui Che Woo, Chairman of Macau gaming operator Galaxy Entertainment Group (GEG), says that he respects the authorities’ decision to effectively shut down all junket room business in the city, as “the business is no longer recommended by local government”.
Junket association head Kwok Chi Chung told AGB that Macau junkets are facing difficulties in luring agents, as the restrictions in total profit make Macau’s industry unattractive compared to overseas markets.
According to the latest update, nearly 75 percent of junkets in the city are inactive under the new junket operation model that started on January 1st, 2023. The junket industry sent a letter to the government on February 6th requesting a moratorium on the 5 percent tax charged on commissions earned by junket operators. However, Macau’s government only gave a reply early this month and refused to do so.
Junkets’ business relies on collaborating with affiliates to bring high rollers to gamble in Macau, and the industry agents always seek higher commissions. According to the city’s new junket law, each junket is only permitted to work with one concessionaire and cannot share in the revenue of the casino, only being eligible to receive a maximum of 1.25 percent commission from rolling chip turnover.
The Macau government says, in a written response to a trade group for the Macau junket sector, that the authorities do not plan to offer relief on the burden of a 5 percent withholding levy on commissions paid by casinos to junkets. That is according to information provided by Macau junket-sector veteran U Io Hung to GGRAsia.
Under the old regulatory system that had been in place until December 31, junkets had been allowed to benefit from a legal provision that permitted them either a total or partial exemption from taxation on those junket commissions or remunerations that were paid to the junkets in kind, such as transportation, accommodation, food and drinks, and entertainment.
According to some Macau Junkets, the Macau government has reintroduced a 5% commission tax payable by all junkets on commissions earnt each month.
Under the recently passed law on junkets, titled Legal Framework for Operating Games of Chance in Casinos, junkets are entitled to receive a 1.25% commission on rolling chip turnover, which is paid to them by their concessionaire partner. The law also notes that junkets are required to pay a 5% tax on their commissions, to be paid to the government on a monthly basis.
While this tax was already in place long before the new law was passed late last year, it had previously been waived, Kwok Chi Chung – President of the Macau Association of Gaming and Entertainment Promoters – told IAG that the government is now demanding payment of the tax.
Macau’s Gaming Inspection and Coordination has released its list of licensed junkets for 2023, with the number of junkets falling to 36 – down from 46 a year ago.
The 36 licensed junkets are those that completed their renewal applications last year and most were already operational throughout 2022, including the likes of Haishen Group, Hoi Seng and Novo Clube VIP Legend.
However, notably absent from the list are the likes of once industry leading junket Suncity Group following the arrest of its former CEO Alvin Chau in late 2021 and Tak Chun Group after its CEO Levo Chan was arrested in January 2022. Both were charged with illegal gambling and being part of a criminal syndicate and both have recently faced trial in Macau’s courts.
The number of licensed junkets had already been in decline even prior to those events, falling from a high of 235 in 2013 to around 100 in 2019, 85 in 2021 and to 46 last year.
The remaining 36 junkets as of 2023 will now be required to sign a contract with one of Macau’s six concessionaires. According to the city’s new junket law, each junket is only permitted to work with one concessionaire and cannot share in the revenue of the casino, instead eligible to receive a maximum of 1.25% commission from rolling chip turnover. Concessionaires are, however, permitted to partner with multiple junkets.
https://www.asgam.com/index.php/2023/01/04/macaus-dicj-releases-list-of-36-licensed-junkets-for-2023-down-on-previous-years/
Jan23
On the issue of VIP play, Kwok said he expects some junket operators to survive, although to what extent remains to be seen.
Macau passed its new Junket Law on 15 December, which stipulates that junkets are no longer allowed to share gaming revenue, can only receive a commission of 1.25% from concessionaires and are limited to inking business partnership agreements with a single concessionaire.
“Junket operators will remain working in casinos as long as they find a way to survive,” Kwok said.
“The problem is whether they can make [a reasonable] profit. If they are not allowed to solicit customers from the mainland they can go to Hong Kong or Japan to expand the market. Junket operators still have room to survive, although they will not make their fortune as easily as before.”
https://www.asgam.com/index.php/2023/01/31/shopping-around/
Junkets in Macau are going to be required to provide a guarantee of MOP1.5 million ($187,000) in order to be able to apply for a new junket license or to renew an existing one.
According to information published in the SAR’s Official Gazette on Wednesday, the new regulation is set to come into effect on January 1st, alongside the new gaming concessions and the new junket law.
The measure is aimed at ensuring that any junket operator will be able to pay out eventual costs regarding potential fines relating to its activities or financial obligations to its shareholders or clients.
https://agbrief.com/intelligence/deep-dive/29/12/2022/macau-junkets-to-provide-187k-guarantee-for-license-renewal/?utm_source=Asia+Gaming+Brief&utm_campaign=0c5cfa8957-EMAIL_CAMPAIGN_5_19_2022_13_42_COPY_01&utm_medium=email&utm_term=0_51950b5d21-0c5cfa8957-69255637&ct=t(EMAIL_CAMPAIGN_5_19_2022_13_42_COPY_01)&goal=0_51950b5d21-0c5cfa8957-69255637
The Macau Legislative Assembly has unanimously passed the “Legal Framework for Operating Games of Chance in Casinos”, the law which regulates the rules of operation of gaming junkets, management companies and gaming agents in Macau. The law, informally known as the Macau junket law, will come into force on 1 January 2023.
The new law stipulates that gaming junket and management companies can only provide services to one of Macau’s six casino concessionaires and that junkets, management companies or agents cannot share casino revenues with the concessionaires and cannot receive deposits from other persons, whether such deposits relate to non-gaming or gaming activities.
The law also introduces the offence of “acceptance of an unlawful deposit”, which is punishable by two to five years imprisonment for any gaming junket, management companies or gaming agent.
In the future, the number of gaming junkets that each concessionaire can work with will be determined by the Secretary for Economy and Finance annually and will be published on the DICJ website. The Government will determine the number of gaming junkets by considering the scale of gaming industry development and the overall operating conditions of each concessionaire.
Segundo a nova versão da proposta de lei dos “junkets”, o promotor de jogo ou colaborador encarregado pelo jogador pode, em nome deste, depositar numerários ou fichas na conta exclusiva desse jogador aberta pela operadora, não sendo esta actividade tida como ilegal. Além disso, a nova proposta passa a incluir também a concessionária de jogo no âmbito dos autores do crime de “aceitação ilícita de depósito”
https://jtm.com.mo/local/junkets-podem-fazer-depositos-em-nome-dos-jogadores/
The Second Standing Senate Committee of the Macau Legislative Assembly (AL) continued to discuss the new junket law, Legal Framework for Operating Games of Chance in Casinos, on Tuesday with Committee Chairman Chan Chak Mo noting that the previous “obligation to cooperate” will be removed and replaced by “disclosure of information”.
As previously reported by Inside Asian Gaming, Article 56 of the original text of the bill states that “In order to implement the provisions of this law, any person or entity must collaborate with the MSAR Government and provide all necessary support, providing DICJ (Gaming Inspection and Coordination Bureau) and DSF (Financial Services Bureau) with necessary documents, information, elements or evidence when requested, even if they are subject to a duty of secrecy.”
https://www.asgam.com/index.php/2022/08/16/legislative-assembly-eases-information-disclosure-requirements-in-new-macau-junket-law/
Robert Goldstein, the boss of casino group Las Vegas Sands Corp, says the retreat of junket operations in Macau is an opportunity for the firm’s subsidiary Sands China Ltd to boost its margins in the casino business. The company could now relocate gaming space previously allocated to VIP gaming to serve other needs.
The group is “happy to have it back,” the executive said, referring to the VIP space.
Macau’s Legislative Assembly (AL) has confirmed that concessionaires will be allowed to accept player deposits under the city’s revised gaming laws.
The Second Standing Committee of the Legislative Assembly continued discussions on the bill “Legal Framework for Operating Games of Chance in Casinos” on Friday, largely focusing on the issue of player deposits and whether concessionaires and junkets will be permitted to assume such liabilities. The members were informed by the Legislative Assembly’s advisors that it is legally permissible for concessionaires to receive deposits, while Committee Chairman Chan Chak Mo stated that this will continue to be the case under the revised gaming law.
Members of the Second Standing Senate Committee of the Macau Legislative Assembly have raised concerns over an article contained in Macau’s new junket law requiring confidential documents to be provided at the government’s request.
According to Article 56 of the Legal Framework for Operating Games of Chance in Casinos, titled “Obligation to cooperate”, any person or entity must, upon request of the DICJ and the Financial Services Bureau (DSF), provide the required documents, even if the documents are subject to confidentiality obligations.
The original text of the bill states, “In order to implement the provisions of this law, any person or entity must collaborate with the MSAR Government and provide all necessary support, providing DICJ and DSF with necessary documents, information, elements or evidence when requested, even if they are subject to a duty of secrecy.”
https://www.asgam.com/index.php/2022/05/05/macau-junket-law-will-require-companies-to-hand-over-privileged-documents-at-governments-request/
Establishing an appropriate “scale” for the Macau gaming-promoter sector was seemingly a factor for the local government in drafting a consolidating bill that covers licensing and regulatory matters for the promoters – also known as junkets – as well as for the city’s so-called satellite casinos.
That is according to Chan Chak Mo, who heads a committee of the city’s Legislative Assembly tasked with deliberating on the bill. Mr Chan’s committee started on Tuesday its initial discussion session on the bill, after the document had a first reading at an assembly plenary session last week.
Proposed new licensing terms and regulatory requirements for Macau’s authorised junket entities, known locally as gaming promoters, will make it harder for them to conduct business, suggested respectively a junket trade group leader, and two gaming lawyers, in comments to GGRAsia.
The fresh conditions are in a new consolidating bill called “Regime for the exploitation of games of chance” that also covers so-called satellite casinos, and is due to have its first reading on Wednesday in the city’s Legislative Assembly.
The measure is separate from the gaming law amendment bill already going through the assembly. The government has said previously that Macau’s gaming framework needs to be updated as a linked issue to a fresh public tender process for Macau gaming rights.
Kwok Chi Chung, president of the Macau Association of Gaming and Entertainment Promoters, told GGRAsia that he identified several “negative” implications for the junket trade from the new consolidating bill.
“Each Macau junket will only be allowed to work with a single Macau casino concessionaire. This already greatly restricts the business conditions for the junket operators,” remarked Mr Kwok.
https://www.ggrasia.com/proposed-macau-regulations-make-junket-biz-hard-experts/
Members of Macau’s Legislative Assembly gave a first-reading nod on Wednesday – after several hours of debate – to a consolidating bill that covers licensing and regulatory matters for the city’s junket operators and for so-called satellite casinos. There were 30 legislators voting in favour at the first reading, and one member voting against the government-backed bill.
A number of legislators speaking in the debate raised questions on the viability for satellite casinos to continue to operate under the proposed framework, and also focused on concerns that aspects of the measure could hurt local employment. There are currently 18 satellite casino venues operating in Macau. The junket sector has traditionally had operations in satellites, as well as being – in relation to concessionaire property-based VIP play, a significant user of local labour.
The government affirmed on Wednesday that enactment of the bill covering junkets and satellites was due to be aligned with a new generation of concession contracts. Up to six casino concessionaires will be allowed, but there is not yet clarity on when new contracts will come into force. The government has however invited the incumbent six operators to apply to extend their current concessions until December 31 – from the current expiry date of June 26 – to allow for a fresh public tender.
The bill on satellites and junkets – known as the “Regime for the exploitation of games of chance” – is separate from another key piece of legislation for the Macau gaming industry: an amendment bill relating to the city’s existing gaming law. The latter also has some provisions linked to satellites and junkets – and is also due to be passed prior to a fresh public tender for Macau gaming rights.
https://www.ggrasia.com/macau-assembly-first-nod-to-bill-on-junkets-satellites/
The Macau government says it will revise the existing gaming credit law, which governs the granting of gaming credit by the city’s casino operators and gaming promoters, the latter also known as junkets. Law No. 5/2004 will be revised “in due time”, to enhance the regulatory standards regarding the granting of credit for gambling or casino betting.
The announcement was included in a note submitted to the Legislative Assembly, together with a new bill that sets out the definitions of junkets, casino-sector management companies, and collaborators. The details of the bill, titled “Regime for the exploitation of games of chance in casinos”, were published on Wednesday.
In the statement, the government said that although Law No. 8/96/M, regarding unlawful gambling, “regulates a set of crimes and offences related to gambling,” the statute “has already been in force for some time”.
“The Macau government considers … it is necessary to improve the respective legal regime to strengthen supervision and ensure the healthy and orderly development” of the city’s gaming industry, reads the statement.
https://www.ggrasia.com/macau-government-to-revise-gaming-credit-law/
Any casino-sector entity defined by the Macau government as a “management company” will only be allowed in future to work with a single Macau casino concessionaire when it comes to running a gaming venue. That is according to a bill titled “Regime for the exploitation of games of chance in casinos”, which sets out the definitions of junkets, management companies, and collaborators.
The latest bill was published on Wednesday on the website of the city’s Legislative Assembly.
Macau’s gaming law amendment bill in likelihood puts some standalone slot parlours within the city in a similar position legally to so-called satellite casinos, two experts in local gaming regulation suggested to GGRAsia.
Ben Lee, analista da
consultora de jogo IGamiX, disse ao GGRAsia que, “nos últimos dois anos, a
maioria dos casinos-satélite não têm sido rentáveis e, de facto, estão a
registar prejuízos. O consultor ressalvou que “alguns dos casinos-satélite
podem até estar dispostos a suportar as perdas a curto prazo, na esperança de
que a longo prazo, uma vez terminada a pandemia, acabem por recuperar a
rentabilidade e recuperar as suas perdas”.
https://pontofinal-macau.com/2022/04/08/muitas-duvidas-para-o-futuro-dos-casinos-satelite-de-macau/ + https://www.ggrasia.com/macau-satellites-declining-before-law-update-experts/
Satellite casinos ‘fraught with opacity and undesirable business practices’, expected law changes necessary – Researcher
ab22
Macau’s licensed promoters for VIP gambling, also known as junkets, are likely in future to be purely agents, introducing players to the city’s casinos, with those venues then managing such players directly, thinks a leading Macau gaming scholar.
Professor Wang Changbin, director of the Centre for Gaming and Tourism Studies at Macao Polytechnic University, told GGRAsia: “I think in the future, the VIP rooms would be directly run by the concessionaires, and the promoters in Macau would be like independent agents in Las Vegas.”
He was referring to the business model for high-roller play in that Nevada gambling hub in the United States. There, independent agents are non-casino people permitted to deal with casinos regarding the introduction of high-value players. Within the casino itself, what are termed casino hosts deal with high-value players.
The Macau scholar added, referring to recent enforcement action against some casino-player agents within the Chinese mainland, and to Macau’s own agent system: “Most of the promotion business would be likely to pull out of mainland China due to the crackdown there, and turn to other markets such as Hong Kong, and to outside countries.”
https://www.ggrasia.com/macau-junkets-may-morph-to-vegas-style-agents-says-scholar/
ab22
The gaming law amendment will bring mainly “positive changes” but operators should switch to direct VIP customers, the Macau Gaming Research Association in its annual research report.
In its annual Gaming Service Index in 2021 report, the association stressed that since “all existing operators can probably renew their concessions” the overall employment situation and the investment climate will remain stable, and no massive impact would be caused on government revenue of the SAR.
https://www.macaubusiness.com/current-gaming-operators-will-likely-see-their-licenses-renewed-but-should-shift-to-direct-vip-association/
ab22
COLATERAL
Hong Kong-listed Suncity Group has announced it decided to terminate its travel business segment since it was previously provided by its previous Suncity junket partner in the Macau SAR.
The travel services segment represented 12,6 per cent of the group’s total revenue in 2021, or HK$42.8 million but had been suspended since the dissolution of locally licensed junket operator Suncity Gaming Promotion Company Limited (SCGPCL).
https://www.macaubusiness.com/suncity-group-terminates-travel-business-segment/
1/4/22
Currently, there are 37 gaming promoters – entities commonly known as junkets – that “are operating” in the Macau market, said the city’s gaming regulatory boss, Adriano Marques Ho, in a Thursday press briefing.
In January, the Macau gaming regulator had said a total of 46 junkets – either entities or individuals – were licensed at that time. Of the 46 registered as licensed in January, 37 are still operating and additionally a single junket has applied to cancel its licence, Mr Ho told the local press on Thursday.
The official, director of Gaming Inspection and Coordination Bureau, was speaking at a government press briefing outlining a newly-proposed bill specifically for regulation of the city’s junket operators. It sets out definitions of junkets, management companies, and sub-agents, or “collaborators” as they are known officially in local regulatory terms.
https://www.ggrasia.com/macau-has-37-junkets-still-in-market-regulator/
31/3/22
The Macau authorities announced on Thursday some of the aspects of a bill proposing a new regulatory system for junket operators in the city.
Macau’s Executive Council, an advisory body to the city’s Chief Executive, stated that, under the bill, contracts between junkets and casino concessionaires would need to be approved by the government. That was in order to improve supervision of the sector, according to a press release from the Executive Council.
It added that each Macau junket would be required in future to work with a single Macau casino concessionaire. Individuals would no longer be licensed as junkets; only companies.
The freshly-announced bill is to be sent to the city’s Legislative Assembly, to be voted on by its members. The length of time that procedure will take depends on the city’s legislators, who can also propose changes to the bill.
A legislator heading a commission with a key role in the approval process, said earlier this month the group aimed to approve by mid-August the new regulatory framework for junkets.
The government has said previously Macau’s gaming framework needs to be updated as a linked issue to a fresh public tender process for Macau gaming rights. The city’s Legislative Assembly is already discussing a bill to revamp Macau’s existing gaming law.
The latest bill sets out the definitions of junkets, management companies, and collaborators, according to the Executive Council’s press release.
Junkets, referred to by the Macau authorities as gaming promoters, have typically been the go-betweens between rich players – mostly from China – and casino operators, for VIP gambling in the Macau market.
According to recent statements by Macau gaming operators, the industry’s cooperation with Macau-licensed junkets was largely paused during the fourth quarter of 2021. That has coincided with two high-profile figures in the local junket segment being detained on suspicion of facilitating illegal forms to gambling.
Junkets have been subject up to now to administrative regulations as well as licensing.
Commentators on the industry have mentioned that other people traditionally associated with the junket sector – “collaborators”, also known as “sub-agents” – have not themselves historically been licensed by the government. Some have viewed that as a regulatory loophole.
https://www.ggrasia.com/macau-govt-to-have-power-to-approve-junket-ops-tie-ups-bill/
Government seeks to rein in junket operators as part of bid to clean up gaming industry. Taking illegal deposits could land offenders in prison for up to five years, once Legislative Assembly passes proposed bill.
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Todos os conteúdos da VISÃO são protegidos por Direitos de Autor ao abrigo da legislação portuguesa. Apoie o jornalismo de qualidade, não partilhe violando Direitos de Autor.
https://visao.sapo.pt/atualidade/mundo/2022-03-31-nova-lei-para-setor-do-jogo-em-macau-com-regras-mais-duras/
A proposta de lei “Regime da atividade de exploração de jogos de fortuna ou azar em casino”, com base num regulamento administrativo, estabelece regras para o exercício de atividade dos “intervenientes da exploração do jogo”: concessionárias, angariadores de jogo (‘junkets’), colaboradores e sociedades gestoras.
“Quanto ao âmbito de intervenção, de atividade e em relação às infrações penais e administrativas, pelo menos estas três vertentes foram reforçadas”, disse, em conferência de imprensa, o porta-voz do Conselho Executivo, André Cheong.
A proposta de lei cria “um mecanismo aperfeiçoado para a verificação de idoneidade”, define “obrigações e responsabilidades entre as entidades sujeitas à supervisão”, para prevenir “a prática de diversos tipos de atos ilícitos”, indicou. Pretende partilhar este texto? Utilize as ferramentas de partilha que encontra na página de artigo.
O novo diploma vem complementar a proposta de lei “Regime Jurídico de exploração de jogos ou azar em casino”, que está neste momento em discussão na Assembleia Legislativa, para regular o concurso público das licenças de jogo e a atividade das concessionárias.https://visao.sapo.pt/atualidade/mundo/2022-03-31-nova-lei-para-setor-do-jogo-em-macau-com-regras-mais-duras/
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