A bill dealing with credit-handling at local casinos will have its first reading in parliament next Thursday.
Officially called Legal System Governing Casino Games of Luck Credits, the bill establishes frameworks and procedures pertaining to the way credits are handled.
As stated by the government in the introductory document, the bill proposes that credits conducted between casinos or their representatives with players must be conducted with contracts as supporting materials.
Casino intermediaries need contractual support in order to initiate business.
The bill also proposes that casino intermediaries no longer represent casinos to establish credit-issuer contracts or conduct legal actions.
Failure to comply with the new obligations under the bill would result in fines between MOP600,000 and MOP5 million, depending on whether the infringing party is a casino operator or an intermediary, according to the bill.
Procedural details are also added in this bill and provide the essential terms of the contracts, as well as requirements to vary and terminate the contracts.
The bill has also named the authorities of competent government entities “so as to refine the supervisory mechanism.”
The government expects the bill to be promulgated as law on the first day of 2024 at the earliest.
