Individual creditor rights among debate topics at casino credit bill first reading

Three lawmakers expressed their concerns over protections for casino intermediaries during the first reading of the casino credit bill last week.

Ron Lam, Pereira Coutinho and Leong Sun Iok – the latter being a trade unionist – questioned the government about the bill’s future effectiveness in protecting creditors.

In response, director Adriano Marques Ho of the Gaming Inspection and Coordination Bureau (DICJ) assured lawmakers that currently, casino intermediaries have a well-operating mechanism. They are able to evaluate how much they will lend to each customer. He added that casino license holders have an even better mechanism to acknowledge their customers’ credit levels.

Adding to Ho’s reply, Secretary for Economy and Finance Lei Wai Nong said that creditors have their own risk assessment system. Except in scenarios stipulated under Article 11 of the bill about confidentiality obligations, creditors are allowed to exchange intelligence on debtors.

He suggested that further discussions may be conducted at the Standing Committee.

While replying to Lam’s question on shared access of the bank debtor intelligence platform, Lei said that at the current stage, there is no plan to implement such an arrangement.

Coutinho also asked whether the currency exchange market can be liberalized to ease illicit currency exchange in casinos. The secretary underlined that doors are opened to casino operators to operate such businesses, but that applications must be made in advance.

Coutinho suggested that the blossoming of the illicit currency exchange business in local casinos is due to the lack of competition in legal operations. There are four gasoline brands used by international cars in Macau, but they provide fuel at exactly the same prices product-wise for unleaded, diesel and premium unleaded products.

Despite this, the secretary pledged that further crackdowns will be conducted to ensure the orderly administration of the casino environment.

The bill was passed unanimously and will then be reviewed by the Second Standing Committee.