Date
11 December 2017
Macau is under pressure to diversify its economy and reduce its reliance on casinos. Photo: Bloomberg
Macau is under pressure to diversify its economy and reduce its reliance on casinos. Photo: Bloomberg

Macau tightens grip on junket operators

Macau will require junket operators to undergo “good citizen” certification before they can apply for a bank account.

The new policy, which takes effect in the new year, is intended to weed out criminals and civil offenders, the Hong Kong Economic Journal reported Tuesday.

It covers all junket operators, including intermediaries in the VIP gaming market.

Macau gaming authorities have issued a circular to VIP room operators about the new requirement, the report said, citing Macau Daily.

The government is trying to tighten oversight of mainland agents who are expected to be dominant players in the junket market, according to sources.

They will be required to obtain a certificate of conduct from a mainland authority.

Hoffman Ma, chairman of Success Universe Group Ltd. which co-owns a Macau casino resort, said the new policy will not have much impact on the market.

Meanwhile, gaming revenue is forecast to fall more than 20 percent this month amid a crackdown on corruption and official extravagance in the mainland.   

Macau has been under pressure from the central government in Beijing to diversify its economy and reduce its reliance on gaming.

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Freelance journalist

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