• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

No-interest play deposits ok for casinos says Macau bill

Aug 12, 2022 Newsdesk Latest News, Macau, Top of the deck  


No-interest play deposits ok for casinos says Macau bill

Macau’s consolidating bill that covers licensing and regulatory matters for the city’s junket operators and so-called satellite casinos, is now likely to be given a second and final reading and be passed, at a Legislative Assembly plenary session either in “October or mid November”.

A newly-proposed article in the bill, revealed on Friday, says casino concessionaires would themselves still be allowed to “provide an account to gamblers for depositing their cash, gaming chips or other forms of payments for the purpose of gambling”, but concessionaires would be banned from “providing the gamblers any monetary interest” for the accounts established.

The information was given by veteran local legislator Chan Chak Mo, who heads a committee tasked with scrutinising the bill. He was speaking to the media following a Friday closed-door meeting of the committee, attended by government officials, led by Secretary for Economy and Finance, Lei Wai Nong.

This year, the assembly is due to have an annual break during September. The provisions of the bill, once it is passed, would come into effect at the same time as a new round of up to six, 10-year, gaming concessions that are likely to start in January.

According to the bill, it would no longer be possible for an individual to be licensed as a ‘gaming promoter’, as junkets are known in Macau. Only Macau-incorporated companies would be eligible to apply. Each Macau junket would only be allowed to work with a single Macau casino concessionaire, and would be forbidden to share casino revenue with the partnering concessionaire.

The bill also proposes criminal penalties against what the government terms “illegal taking of deposits” from the general public by junket operators or ‘management companies’. The latter are entities that historically have provided management services at so-called satellite casinos.

The bill says anyone involved in “illegal taking of deposits” could face up to five years in prison.

The deposit practice that will be permitted for casino concessionaires, should abide by rules on anti-money laundering and combatting the financing of terrorism, to ensure a gaming patron’s source of funds is “clean”, legislator Mr Chan stated.

“Concessionaires are keeping their gaming patrons’ cash or gaming chips in their accounts, which is a current practice,” said Mr Chan. “So, by the new article, they can [continue to] do so as long as those accounts are not generating any interest payment [to the patron].”

Macau’s casino regulator, the Gaming Inspection and Coordination Bureau, also has the authority to set annually a maximum number of junkets that each casino concessionaire is permitted to have as a partner, the bill states.

The criteria for setting the cap is based on Macau government’s consideration of the city’s “overall policy for the gaming industry”, “the scale of the junket sector” and the “operation status of each casino concessionaire,” said Mr Chan, citing the government’s explanation.


  • tweet
Related articles
  • Macau junket group urges govt to waive levy on commissions
    Macau junket group urges govt to waive...

    Feb 10, 2023  

  • 4 Macau ops claim total US$17mln against Levo Chan, others
    4 Macau ops claim total US$17mln...

    Dec 06, 2022  

More news
  • Pagcor chairman keynote speech at SiGMA Asia
    Pagcor chairman keynote speech at SiGMA...

    Mar 28, 2023  

  • 3-month eVisa plan to boost Vietnam tourism: report
    3-month eVisa plan to boost Vietnam...

    Mar 28, 2023  


Latest News

Pagcor chairman keynote speech at SiGMA Asia

Pagcor chairman keynote speech at SiGMA Asia

Mar 28, 2023  

Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
Read More
3-month eVisa plan to boost Vietnam tourism: report

3-month eVisa plan to boost Vietnam tourism: report

Mar 28, 2023  

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us