Monday, June 24, 2024

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Illicit money exchange in Macau becoming “corporatized and professional”, warns security chief

Illicit money exchange in Macau's casino areas is increasingly becoming "corporatized and professional" in its operations, according to the SAR's security chief.

Insiders wary of potential criminalization of illicit money exchange in Macau

Macau gaming industry insiders are wary of the potential criminalization of illicit money exchange in Macau as Macau’s Secretary for Security suggested the possibility of criminalizing such activities around casinos.

Macau gaming law tweaks seen as little more than a bandaid

Macau legislators proposed two key amendments to the city’s gaming law bill this week, but both are seen as short-term patches that do little to help solve some of the larger issues facing the industry.

Chan in support to CE powers to revoke gaming licenses

Macau legislator Chan Chak Mo has supported the proposal that grants the Macau chief executive discretionary powers to revoke gaming concessions should they breach national security, administrative sanctions, or other contractual obligations. 

Some China cities slowing Macau IVS issuance: J.P. Morgan

Some Mainland Chinese cities appear to be slowing or tightening the issuance of Macau individual visit scheme visas (IVS), although there is not enough evidence yet to draw meaningful conclusions, J.P. Morgan analysts wrote in a note.

Macau government to have power to reduce gaming tables or slot numbers

Macau lawmaker Andrew Chan Chak Mo says that the gaming industry amendment bill will give powers to the government to put a maximum cap on gaming tables and slot machines, as well as reducing individual table numbers and slot machines for concessionaires based on their usage. 

Macau illegal gambling law imposes fines for gambling in public places

Macau's new illegal gambling bill aims to impose fines for gambling activities in parks and other public places.

Macau lawmakers confirm non-profit mahjong play as legal

Macau lawmakers have confirmed that playing mahjong is not illegal when it is played without any profit-making purpose.

Macau junkets protest against being banned from issuing gaming credit

Macau junkets wrote a letter to the city’s Legislative Assembly to express their opposition to being banned from issuing gaming credit.

Macau Government proposes barring junkets from providing gaming loans

The Macau SAR government has proposed to completely bar junket operators from loaning money for gaming purposes, members of the Legislative Assembly Second Standing Committee recently revealed.