Macau gaming law amendment bill first reading approved
Macau legislators have approved the first reading of the gaming bill with 30 votes in favour and one against.
Macau.- Macau’s Legislative Council has approved the first reading of the gaming law amendment bill with just one vote against it.
The amendment bill sets out a gaming concession period of up to 10 years that can be extended for a further three years in exceptional circumstances. There would remain up to six concessions but the current sub-concession system would end.
The bill proposes that casino operators in Macau be given minimum annual casino gross gaming revenue (GGR) targets, which would be calculated based on the maximum number of gaming tables and gaming machines each gaming concessionaire is permitted to operate. The bill would allow junket operators to each provide services to only one casino operator.
Li Wei Nong, Macau’s Secretary for Economy and Finance, who attended the reading, said the entire process may not be completed before the six existing casino concessions expire on June 26. Authorities will consider extending existing licensees to the extent permitted by current gaming laws.
Eleven legislators raised questions about the draft law, in particular, about the proposed requirements for the link between satellite casino venues and gaming concessionaires, and the potential impact the measure could have on local employment. However, Li Wei Nong said the bill doesn’t want to “kill the gaming industry”.
