In Macau, gambling operators are voicing their opposition to a proposed ban on issuing loans for gambling activities. They have submitted a letter to the city's Legislative Assembly expressing their discontent.
Officials have acknowledged receipt of the letter and stated that they will review the proposed bill, taking into consideration the concerns raised by the operators. Chan Chak Mo, President of the Legislative Assembly 2nd Committee, noted that the current practice of providing loans has been effective in increasing tax revenue, and therefore, the right to offer loans should be preserved.
Under the new version of the law, gambling organizers would be prohibited from extending loans to visitors for betting purposes, a departure from the current practice. The government initiated this regulatory change last December, citing concerns about risks associated with gambling and the need for the healthy development of the gaming industry.
