New junkets bill approved on first reading
The new bill to amend the rules and regulations for the activities of gaming promoters, also known as junkets, has passed on the first reading at the Legislative Assembly (AL) yesterday with only one vote against.
After a heated debate, lawmaker Ron Lam voted against the bill, claiming that the government is overlooking the inevitable consequences, especially concerning the activities of the so-called “satellite casinos”.
In his vote declaration, Lam noted that the government had not been able to convince the lawmakers why it was necessary for this bill to be separated from the general new gaming law that is in discussion on the Second Standing Committee.
Lam also disagreed with what he described as the government’s complete disregard for the potential consequences of the closing of the satellite casinos that, should it happen, will add enormously to the list of unemployed residents who registered just last month, the highest rate since 2009.
Although the bill has raised many questions and a long debate that extended beyond AL’s normal functioning time, in the end, 30 out of 31 lawmakers voted in favor of passing the bill.
Most of the questions raised by the lawmakers were left unanswered, with the Secretary for Economy and Finance, Lei Wai Nong, requesting AL president Kou Hoi In to reply to these questions at a later stage, when the bill moves to further detailed consideration at the Standing Committee due to the “technicality of the matter”.
On the line are the new rules that add powers to the government to authorize or reject contracts between the gaming concessionaires and junkets, as well as the limitation of each concessionaire to be able to work with only one gaming promoter.
The government will also have veto power over the people composing the administration of these companies, who will be subjected to an inspection aiming at the reputation of the members.
Junkets will also not be able to receive money deposits in cash or even gaming chips. All the cashier operations will have to pass through the normal system of the gaming concessionaire, among many other rules which many lawmakers said would have a potential negative impact on the competitiveness of Macau in the gaming market.
