Macau Regulators Receive Initial Proposal To Amend Existing Gaming Laws n4v2p

Macau Regulators Receive Initial Proposal To Amend Existing Gaming Laws July 24, 2018 July 24, 2018 Carolyn Dutton
 Legislation July 24, 2018 by Carolyn Dutton

Macau has long held the top spot for being the biggest gambling hub in the world but things are changing at a fast pace in the global gaming industry and Macau’s casino market could be under threat as Japan looks to launch its own casino industry and lure Chinese VIP gamblers over to their integrated casino resorts. 6p7337

The Japanese casinos are expected to open only after 2022 but Macau knows that it will have to start making changes quickly in order to prepare for the competition and cement its place as the number one gambling hub in the world.

Macau currently has six major casino operators who are licensed to operate and they run a number of casino resorts under their gaming licenses. These gaming licenses are set to expire in 2020 for some of them and 2022 for the remaining operators. There have been talks in the past that Macau’s gaming regulator could open up the market further by allowing new licenses to be issued.

Macau which derives a significant portion of its revenue from the casino industry is under pressure to revise its Macau Gaming Law (Law 16/2001) and make things more flexible for casino operators. A preliminary proposal to amend these existing gaming laws have already been submitted and will be reviewed by the Macau regulator.

In a statement, Lionel Leong Vai Tac, the Secretary for Economy and Finance said

We’ve said before that the awarding of the gaming concession contracts when the current ones expire via a bidding process, and the related law needs to be amended as well. We are now having an internal study on it

Strong Competition Expected For New Licenses h4e5v

The Macau government will have to make key decisions in the coming months that will impact and influence the future of Macau’s casino industry in the next few years. One of those key decisions will be in determining the number of new licenses that will be issued.

The competition for these potential new licenses will be fierce and if a bidding process is launched, then casino operators will be prepared to shell out exorbitant sums of money to gain access into Macau.

SunCity Group which is one of the major junket operators in Macau is very keen to get a casino license and will be one of the firms willing to invest heavily to establish its presence as a casino operator in Macau.

Carolyn DuttonAuthor 26p1l

Carolyn is our legislation expert, with a background in law she is able to cover the current state of gambling around the world

Related News Articles v665z

Law Enforcement Agencies In Bangladesh Intensify War On Gambling

Law Enforcement Agencies In Bangladesh Intensify War On Gambling 5q1j4b

Osaka Casino Project Moving In The Right Direction With Recent Political Outcome

Osaka Casino Project Moving In The Right Direction With Recent Political Outcome 3r5r5u

Christchurch Casino Asks For The First Gambling License Renewal

Christchurch Casino Asks For The First Gambling License Renewal 462b6f

Italian Gaming Regulator Approves 66 iGaming Operators

Italian Gaming Regulator Approves 66 iGaming Operators 4s2m2t