Macau’s Casino Junket operators face tightened rules of operation though it remains to be seen when those rules might arrive or what they will look like. GGRAsia recently quoted Gaming Inspection and Coordination Bureau (DICJ) Chief Paulo Martins Chan and said that the regulator is in the process of drawing up draft regulations which will aim to raise the standard of background checks of those who are involved in the junket industry of Macau.
Chan made the comments on the sidelines of a public event and did not offer much with regards to specifics. He just said that the regulator is planning to raise the threshold for junkets whom are entertaining the market.
The DICJ have been promising for a long time to impose capital requirements on new junkets. Chan offered no timeline for when the latest draft will be given to legislators desks. The past few years have seen the DICJ tighten their grip on the junket sector after public missteps including internal theft scandals as which left junket investors unhappy.
In January, the DICK revealed that its number of licensed junkets fell to 100 which was down by nine as compared to the previous year. This marked the sixth straight year during which the number of junkets decreased from its 2013 peak of 235.
In January, the DICJ announced that its number of licensed junkets had fallen to 100, down by nine from the previous year. It was the sixth straight year in which the number of junkets had decreased from its 2013 peak of 235. Increased oversight by both Macau and Beijing led many junkets to steer their VIPs to other casino jurisdictions, including the Philippines, Cambodia and Vietnam.
Macau’s government announced last week that their tax collection from commissions paid by casinos to junkets in 2018 reached MOP394 million which was a 17% improvement from 2017.