Senior Macau casino and junket executives met with authorities in the world's biggest gambling hub seeking details on proposed regulatory changes but received little in the way of clarity
Macau authorities have identified nine areas of potential change including having government representatives supervise daily casino operations, the number of licenses, better regulation and employee welfare.
Buddy Lam, Galaxy's senior vice president for public relations, told the meeting the company wanted more information on several areas including the introduction of government representatives and clarifications on potential responsibilities and penalties for criminal acts. Macau lawyer Rui Cunha, who represented SJM, argued that the future license period should take into consideration investments made in the former Portuguese colony.People visit the Ruins of St. Paul's in Macau, where casinos have been closed for two weeks because of the novel coronavirus outbreak, China February 19, 2020.
An unrelenting crackdown by China on capital flight and illicit money transfers, has seen junket operators' portion of Macau's total gaming revenue slide to about a third compared with previous highs of around 80%.
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