The Macau Gaming Inspection and Coordination Bureau has informed casino operators in the gambling mecca that they will be required to possess a clean certificate of criminal record for VIP customers beginning next year.
The move is meant to help China crack down on corruption and money laundering, but could severely impact the island betting destination, as VIP players help make Macau the world's largest gambling destination.
Commenting on the matter an anonymous VIP gambling source said, “This could really impose a big impact on new VIP gaming clients, especially those from mainland China as the new measure would mean more inconvenience for them to have an account here to issue commissions [to promoters] or withdraw gaming capital, and they can only rely on local gaming promoters."
Macau Secretary for Economy and Finance Lionel Leong Vai Tac also commented on the certificates, noting: “For our upcoming tasks, I believe that to regulate and monitor the [gaming] sector is very important,” Leong said in a press conference late last week. “We’ll seek to regulate the development pace [of casinos] so that they grow at a reasonable scale."
“We’ll also monitor the industry, including the in and outflow of the capital involved, and see to their human resource allocation – with all of these I believe that can assist us in monitoring the industry better, and making sure that the sector is healthy.”