The Macau government has changed its stance on the issue of gaming promoters, otherwise known as “junkets” granting credit to gamblers. It now wants the practice banned under proposed changes to a Bill on casino concessionaire- and junket-issued credit for gambling.
Junkets to be Banned from Issuing Credit to Gamblers
In the original Bill, only casino concessionaires and licensed junkets would be allowed to issue credit, with junkets required to secure a formal contract for that purpose with their casino partner. The legislation is currently under review by a standing committee of the Macau Legislative Assembly after passing the legislature’s first reading in May this year.
The head of the committee, Chan Chak Mo, told the media following a recent closed-door meeting of the committee that the government is now proposing to prohibit junkets from loaning money for gambling purposes.
New Rules Could Take Effect in Mid-2024
Under new changes to the draft Bill, only casino concessionaires would be permitted to issue credit to gamblers. However, Mr. Chan made it clear that junket operators would still be allowed to assist in bringing customers to casinos and earn commission for their services.
Committee deliberations on the proposals will extend to February 2024, with the Bill expected to take effect four months after being approved into law.
