Jupiter Club Junket
A parliamentary committee yesterday called on the government to provide them with the updated version of the gaming law amendment bill so they can cross-reference it with a similar draft law.
The Second Standing Committee of the parliament has earlier finished its first-phase review of the gaming law amendment bill and is awaiting the government’s provision of an updated version of the document. They will consider the future law as part of a further round of review.
For the time being, the committee is responsible for reviewing the Casino Gaming Operation and Business System, colloquially referred to as the junket operation bill (the Bill).
A week ago, on April 20, the Bill was passed at the parliament’s plenary upon its first reading.
Yesterday saw the first session of the committee considering the Bill. Given the close connection between the two bills, which are both concerned with the casino business, members of the committee thus desire the gaming law amendment bill to be updated before they move on to discuss the junkets bill.
The reason why the committee members wish for this arrangement is so they can consider both bills together. Furthermore, they will be able to ensure the proposed provisions in the two bills are in alignment and do not overlap, where appropriate.
On this, the government said to the committee that it would strive to provide the updated version of the gaming law amendment bill during the course of this week.
Despite the request, the committee considered some articles in the Bill yesterday.
Committee president Chan Chak Mo told the press after the meeting that the committee is awaiting more details on the proposed provision that each gambling intermediary enterprise should not possess a starting capital of MOP10 million.
Furthermore, the committee also demanded clearer explanation on the lines vesting the Secretary for Economy and Finance with the power to order under-capital enterprises to provide guarantees.
The Bill also proposes allowing the government to consider the scale of the city’s gambling intermediary business. On this, the committee also wishes further explanation.
Chan hopes the Bill can be passed by the end of August.
