ince its enactment in 2002, Macau's current regulatory regime governing gaming promotion is facing amendments to tighten the activity of gaming promotors, according to Gaming Inspection and Coordination Bureau director Paulo Martins Chan amidst a gaming conference he attended last week.
Additionally, it will be the second amendment to the law since 2002, considering the revision process led in 2015 when the region’s 126 junkets faced tighter regulations on gaming promotion. Chan said the regulations will “definitely enter the legislation process next year.”
With the amendment bill, the government will also examine junkets’ shareholder structure, suitability and financial strength. Additional reports noted that the government is proposing a higher capital deposit for licensed casino junkets that have just registered in Macau.
Lawyer Jorge Neto Valente, a guest speaker at the conference, regarded tighter regulations as a positive development, but added that such restrictions would not discourage operators from applying for gaming licenses.
“I think it was time for the junkets’ activity to be controlled, at least at a minimum. It was not good for the development of the activity, nor for the government or society, to [let it run wild] for so many years, but it’s better now than never,” Valente told the press.
“No one can say the gaming promoters are out of this race or the current licensed ones are going to keep their license. The truth is, if there’s a tender, the gaming promoters can apply for it,” he continued.
Valente also questioned the services that junkets can offer, given the limitations of land resources.
He argued that future gaming operators would be challenged to devise different service offerings beyond the standard hotels and gaming tables.