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  • sadvest1 sadvest1 Feb 7, 2013 11:42 PM Flag

    good news for AERL

    Reported in the Macau News. The more the government scrutinizes junkets the better for AERL because it might eliminate some competition.

    "The government said Wednesday that it would revise the current registration system for the city’s casino junket operators and vowed to further regulate the profession.

    Secretary for Economy and Finance Francis Tam Pak Yuen made the pledge after attending yesterday’s plenary meeting of the Standing Council on Social Concerted Action at the premises of the Trade and Investment Promotion Institute (IPIM) in Nape.

    Asked by reporters as to whether or not the government has received any information from mainland authorities about measures it allegedly plans to put in place to combat “problem” junket operators, Tam said that the government had been keeping a close eye on any illegal activities related to the gaming industry in the city.

    Britain’s The Times newspaper said in a report earlier this week that Beijing planned to crackdown on triad-linked junket operators who bring high-rolling gamblers into Macau from the mainland.

    According to the report cited by The Macau Post Daily, the move, which unidentified law enforcement sources were quoted as saying would begin after the Chinese New Year andinvolve a police operations in more than six major cities in mainland China as part of Communist Party of China (CPC) leader Xi Jingping’s anti-graft campaign.

    The report quoted an unidentified Macau gaming industry source as saying that “the squeeze has already started on a small scale, but the operators themselves believe that something bigger is coming within the next few weeks.”

    Macau casino stocks listed in Hong Kong dropped in the wake of The Times report.

    When further asked by reporters whether there were any local junket operators suspected of being involved in illegal activities, Tam said that the government had been constantly improving the registration system for the city’s junket operators.

    “The government will review the current registration system for junket operators…,” Tam said, adding that there were regulations in place laying out the criteria for junket operators to abide by.

    Tam also said that the government would not allow any illegal activities related to the gaming industry and vowed to work with police authorities to combat them.

    “The government is determined to develop the city’s gaming industry as a leisure industry that is sustainable and healthy,” Tam stressed.(macaunews)

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3.960.00(0.00%)Oct 1 4:00 PMEDT

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