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Macau junkets protest against being banned from issuing gaming credit

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

According to Chan Chak Mo, president of the 2nd Standing Committee of the Legislative Assembly, the committee is analyzing the proposed law on granting credit for gaming, having received a letter of opposition from gambling promoters.

The new version of the proposed law provides that gambling promoters will no longer be eligible to grant credit in casinos, contrary to current practice. The government decided to change the stipulations in December of last year and also began to prohibit gaming promoters from being eligible to grant credit for reasons of “risk” and “healthy development of the gaming industry”.

According to reports, Chan Chak Mo confirmed receipt of the gaming promoters’ opinion, indicating that they consider that “the current practice [of being allowed] to grant credit has been effective, having contributed to increasing the Macau SAR’s gaming tax revenues; therefore, their eligibility for credit should be maintained.”

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