A shared junket debtor database has begun the testing phase and should be operational in 2017, according Kwok Chi Chung, chairman of the Macau Junket Association, who spoke at the MGS Entertainment Show. The database is designed to help junket operators prevent excess or multiple lending, which would reduce the risk of bad debts.
“The entire system follows the Personal Data Protection Law,” Kwok said. “All loan contracts for debtors issued by the junkets will include a statement approving the debtors’ information to be saved in the database and to be used for references by members of the database.”
Kwok said the shared database is supported by the Gaming Inspection and Co-ordination Bureau and will be operated by the industry itself, according to the Macau Business Daily. He also said stringent regulations and government oversight are vital to strengthen VIP operations in the city.
“The more an industry is regulated, the better the industry will develop,” Kwok said.
“With the current regulations, we believe a positive outcome will be visible next year,” agreed Charlie Choi, chairman of the Macau Gaming Information Association. “With the future establishment of supporting facilities, new casinos, plus the readjustment of junkets, I believe the business has reached its bottom.”
