Macau casino operators in favour of gaming law amendment bill
All six Macau casino operators have shown support for amendments to the gaming regulatory framework announced by the government last Friday.
Macau.- Macau’s six gaming concessionaires, MGM China, Sands China, Wynn Macau, SJM Resorts, Melco Resorts & Entertainment and Galaxy Entertainment Group have all issued statements welcoming proposed amendments to the gaming regulatory framework.
The government of Macau announced on Friday a bill for the city’s new gaming law will allow up to six gaming concessions with a length of 10 years and the possibility of a 3-year extension.
MGM China Holdings Ltd said in its statement that the bill “provides details over various key aspects of the overall administrative procedures and timetable, outlining a clear roadmap on the upcoming important milestone of retendering.”
Sands China Ltd. said the amendments provide “clear guidelines on several proposed changes following feedback from the industry and the general public.”
Wynn Macau said: “The enhancement of these regulations will significantly strengthen the sustainable development of Macau.”
SJM Resorts SA said the bill showed “the Government has taken into account the views collected from the industry and various sectors during the public consultation.”
Galaxy Entertainment Group also showed support for the new gambling law and said that “having optimised laws and regulations in place will lay a solid foundation for the city’s steady development.”
As regards Melco Resorts and Entertainment, the casino operator said it is “committed to participating in the public tender of the award of a gaming concession and will continue to promote economic diversification.”
There would be up to six concessions under the government-backed bill, ending the current sub-concession system. Another condition put forward by the government is that operators can only have a maximum of 30 per cent of their shares listed publicly.
Authorities have dropped a proposal to elect “delegates” to Macau’s gaming concessions. Taxes haven’t changed. Macau has an effective tax rate of 39 per cent on its concessionaires.
