Saturday, June 25, 2022

Macau junket association backs tighter regulations


The Macao Junket Promoters and Cooperators Association says it backs the government's intention to tighten junket regulation after the Dore incident but also called for more communication, TDM Macau reports.

In a meeting with Secretary for Economy and Finance Lionel Leong, the  junket association discussed how the industry could deal with the new measures in the wake of diminishing VIP numbers and the scandal in which a former Dore cage manager fled with more than HKD400 million from investors.

Junket representatives, including legislator Zheng Anting, back the government's intervention but called for more communication.

Kuok Chi Chong, president of the Macao Junket Promoters and Cooperators Association, said following the Gaming Inspection Bureau’s issuance of new internal regulation guidelines for accounting, he hopes there will more dialogue between the government and industry over future regulations. 

“We discussed this issue with the Secretary.  The Secretary said that a law revision might be launched in the future to optimise management of the industry.  We hope the Secretary could communicate more with us when revising the laws in the future,”  he was quoted by TDM as saying.

Alvin Chau, CEO of Macau's largest junket operator, Suncity Group, says the VIP business is now healthier and will bounce back with the rest of the gaming industry, with the association believing the drop in VIP business has already reached the bottom this year.

 

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