Saturday, 2nd December 2023

Just another WordPress site


Macau bill still allows Junket to process sponsored cash, chips

Macau plans to allow future Junket operators and collaborators to deposit cash or game chips on behalf of customers. However, such processing is only possible through a customer account set up with a game concessionary, said veteran legislator Chan Chak-mo in comments to local media on Monday.

Chan was citing comments from city casino regulators on how the integrated bill, which addresses licensing and regulatory issues for junkets and so-called satellite casinos, would work in terms of day-to-day gaming operations. Chan’s remarks after a closed-door meeting with several officials of the Macau government on Monday. Chan’s legislator heads a legislative committee tasked with scrutinizing the government’s proposed legislation. 경마사이트프로

“Junkett may still deposit cash or game chips in an account established in the concessionary on behalf of the customer for gambling purposes. The rule also applies to collaborators,” Chan said, citing an explanation from the Game Inspection Coordination Bureau, a casino regulator shared with his committee on Monday.

In Macau, the “Collaborator” is a sub – agent that has traditionally worked with junkets to recruit high – value players.

Mr Chan added, citing the regulator’s explanation. “Junket operators and collaborators should be able to access customers’ accounts, withdraw money from accounts for them, or help them exchange game chips.”

He further noted: “Junkets can do those things now, and they will continue to do so.”

In the context of the additional provisions of the integration bill proposed by the Macau government, the future exclusive role of casino concessors, not junkets, was mentioned on Friday.

The concessionaries will not be allowed to offer capital interest or other monetary rewards to players in exchange for holding their money or gambling chips. Any person or organization that intends to do so will be considered involved in the “illegal deposit collection” act. According to the bill, a crime punishable by up to five years in prison.

Junket operators, their collaborators, and the latter, ‘management companies’, which have historically provided management services in satellite casinos, are specifically prohibited from holding player deposits directly, and provide financial incentives to players in this regard.

Mr Chan told local media on Friday that he expected the bill to pass with the second and last reading at a legislative plenary session “in October or mid-November.”

If passed, the clause will go into effect at the same time as game concessions of up to six and ten years, which are likely to begin in January.

Leave a Reply

Your email address will not be published. Required fields are marked *