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Macau Casinos Allowed to Offer Credit

9 February 2004

MACAU – As reported by the Ponto Final: "10-member Executive Council passes bill that will permit casino operators and gaming promoters to grant gamblers non-pecuniary credit - in the form of gaming chips

"The Macau government's Executive Council passed on Monday a bill that would allow casino operators and licensed gaming promoters to grant non-pecuniary credit in the form of gaming chips, according to the advisory body's member and spokesman, Tong Chi-kin.

"Speaking at a press conference, Tong said the piece of legislation was meant to promote the Macau gaming industry's image by legalising the granting of gaming credit by casino-operating concessionaires, sub-concessionaires and duly licensed gaming promoters. He stressed that gaming credit would only be allowed in the form of transferring gaming chips to gamblers, but not cash or other forms of money such as cheques.

"…Las Vegas gaming mogul Steve Wynn, whose Wynn Resorts holds one of Macau's three new gaming concessions, has made the construction of his local mega-casino-hotel resort dependent on legislation allowing his company to grant gamblers credit. In Las Vegas, the granting of non-pecuniary gaming credit is a long-established legal practice…"

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