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 2021-09-26 (Sunday)
27oC / 74%Céu

NO MORE SUB-CONCESSIONS IN NEW MACAU GAMING LAW

The public consultation on the revision of the SAR’s gaming law begins on September 15.

In the consultation document, the government has listed nine major consultation topics, including the number of concessionaires, the supervision of gaming operators, and the protection of local workers.

Secretary for Economy and Finance Lei Wai Nong says the government wants to promote the sustainable and healthy development of the gaming industry through the law revision.

LEI WAI NONG - Secretary for Economy and Finance

«The SAR government hopes to, through this law revision, improve the legal and regulation regime, promote the sustainable and healthy development of Macau’s gaming industry, improve the overall competitiveness. The hope is for Macau’s gaming industry to enter a new development stage and catch up to the current development, so that it can better contribute to the social and economic sustainable development of Macau.»

Some of the nine major consultation topics listed in the consultation document include the number of concessionaires and duration of a licence, regulation on concessionaires, protection of local workers, vetting of gaming operators, junket operators and their partners, and the introduction of government representatives into gaming firms.

Lei Wai Nong stresses that the local gaming industry must maintain a certain industrial scale to ensure future development and competitiveness.

LEI WAI NONG - Secretary for Economy and Finance

«It’s necessary to maintain a certain scale. The enhancement of the scale can bring benefits. But it cannot expand indefinitely. This consultation will conclude the past experience. There can be a suitable limit on the industrial scale in the future. We will review the benefits brought by the previous scale, but also hope to maintain a certain scale to guarantee future development and competitiveness.»

But the Secretary has declined to comment on the extension of the current licences, which will expire in less than a year.

The abolition of sub-concessions, altered license terms and increased government oversight of gaming activities are among the proposed changes to the gaming law.

Among the proposed changes in the termination of the sub-concession system which have allowed operators such as Sands China, MGM Resorts and Melco Resorts to explore the local market.

The public consultation period will start tomorrow and last for 45 days.

There will be four public consultation sessions and one session for gaming operators and junkets.

 

 

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