The Macau Metro Monitor, March 9, 2011
SIDE-BETTING TEN TIMES AS HIGH AS CASINO REVENUE Macau Daily Times
According to the US Department of State's International Narcotics Control Strategy Report 2011, illegal side-betting could total MOP 1.88 trillion, 10x the MOP 188.3 billion in Macau GGR in 2010. Reiterating the junket concern in the August 2010 report, the 2011 report calls for "robust oversight of junket operators." It classifies Macau as a “major money laundering” territory and a “jurisdiction of primary concern” and claims for the 1st time that local “financial institutions [are] engaged in currency transactions involving significant amounts of proceeds from international narcotics trafficking”. The reports stresses, “In addition to the existence of casinos, close proximity border with PRC [the People’s Republic of China] and Macau’s open economy, are factors that create a risk of money laundering and terrorist financing activities”.
However, the report does acknowledge that Macau continues to make considerable efforts to establish an anti-money laundering framework that meets international standards. It states that the GIF (Financial Intelligence Office) should have access to all the currency transaction reports sent to the DICJ by gaming operators.
LRT PROCESS: NEW LAWSUIT FILED TO OBTAIN DOCUMENTS Macau Daily Times
The consortium between Bombardier Transportation and China Road and Bridge Corporation (BT CRBC) has filed a new lawsuit in Macau’s Administrative Court to obtain the release of documents and additional information regarding the public tender for the supply of the rolling stock and the system for the first phase of the Light Rail Transit (LRT). The BT CRBC consortium claimed it was barred from analysing several documents from the LRT tender process. The new lawsuit, filed on March 2, suspends yesterday’s deadline for lodging an appeal against the result of the tender.
SANDS MACAO LAUNCHES ELECTRONIC TABLE GAMES STADIUM macaubusiness.com
Sands Macao’s “Imperial Stadium” features live roulette and sic bo games with 100 individual electronic touch-screen stations, combining live dealers with electronic stations.