complementary documents or changes, must be approved by the Gaming Inspection and Coordination Bureau, in writing and with notarized signatures, being that a copy of the agreement must be submitted to them within 15 days of the agreement coming into effect.
This law also determines that the provision of properly authorized gaming credit creates a civil liability on the part of the borrower that can be pursued through the courts. Legally authorised credit providers are protected from being qualified as ‘loan sharks’, since “loan sharking” is punishable with up to three years in prison or five years if it is an aggravated offence. Other aggravating factors (such as when illegal gaming credit providers hold of the identification document of the person to whom they have granted credit), can result in a prison sentence of up to eight years.
In all three scenarios the court can ban the offenders from entering any Macau casino gaming rooms for at least two years and up to 10 years. Loan sharking continues to be an issue in Macau, with 153 cases registered between June 2009 and May 2010.
Future legislative acts related with gaming
There is one key initiative under discussion in the Legislative Assembly that intends to raise from 18 to 21 the minimum age to enter a Casino and regulate in greater detail the access and expulsion of a person, the request of prohibition of entry in a casino by a person and the provision that the prizes won by those forbidden from entering a casino will revert to Macau’s Government.
Forecast
As new properties are set to open, the infrastructure and human resources gain more experience and the steady influx of Mainland Chinese gaming in Macau can only grow.
Recently, analysts started a new topic related with the fears for the lack of a timetable by the Macau government regarding the renewal of gaming licenses and sub licenses. Although such licenses and sublicenses are only set to start expiring by 2020, it is being considered that this genuine worry in regards to a potential failure in the renewal making is making difficult for gaming operators to finance their projects in Macau.
Put your company in the spotlight at the new Totally Gaming Awards
The new Totally Gaming Awards from ICE Totally Gaming, the world’s most complete
gaming exhibition, have been designed and developed to recognise and reward innovation, as well as great products and services, from across the breadth of the industry.
To discover how you can be part of this exciting new industry initiative, visit:
www.totallygamingawards.com
Supported by 34
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52