In Macau, a senior government official has reportedly disclosed that authorities have no immediate plans to initiate a licensing regime for the numerous sub-agents that work in collaboration with the enclave’s many casino junket operators.
According to a report from GGRAsia, the revelation came from Paulo Martins Chan, Director for the Gaming Inspection and Coordination Bureau regulator, on the sidelines of a Monday gaming law conference held at the University of Macau.
However, Chan reportedly used the occasion to declare that officials may instead seriously consider adding language to amended gambling legislation that is set to ‘definitely enter the legislation process next year’ that would require the city’s 126 licensed casino junket operators to publicly disclose a list of their sub-agents.
GGRAsia reported that sub-agents, which are often referred to as ‘collaborators’, work in partnership with junket operators in order to bring VIP punters into a specific casino. They also often endeavor to secure credit for high-stakes customers while helping these players to easily repay any losses.
“Now the ‘collaborators’ are basically working with the junket firms so we don’t look at them independently,” Chan reportedly told GGRAsia. “But we will see whether further considerations should be adopted on this issue.”
GGRAsia reported the Gaming Inspection and Coordination Bureau currently requires every casino junket operator to submit a list on an annual basis containing the identities of the sub-agents they intend to utilize over the impending twelve months. In keeping with local regulation No.6/2002, this inventory must purportedly additionally contain all of the appropriate identification documents and criminal record certificates of the prospective ‘collaborators.’ It is then at the discretion of the regulator whether to approve the nominated names.
Chan reportedly furthermore told GGRAsia that the coming updated gambling legislation could see new casino junket operators required to fulfill higher capital deposit conditions while having their suitability, shareholder structure and financial strength assessed.
“After adopting opinions from the Legal Affairs Bureau, we think it will be a positive to the whole regulatory process if we can treat [the new casino junket operator rules] as a law so that we can have it handed to the Legislative Assembly for discussion,” Chan reportedly told GGRAsia.
Content credit: news.worldcasinodirectory.com