Macau government urged to explain renewal of casino licences
A report signed by the Macau Legislative Assembly subcommittee suggests the government should explain whether the city will extend its current gaming concessions and what it plans regarding a revision of the city’s gaming law.
Macau.- Amid growing speculation that Macau will extend its current gaming concessions, a subcommittee of the Macau Legislative Assembly has issued a report with recommendations for the government.
The report suggests authorities should give more information about changes to the licence criteria and the extension of current gaming concessions. Members also suggested authorities should not rush to renew licences, arguing that this might result in “lower-quality” bids for the city’s gaming rights.
Macau’s current casino licences will expire in June 2022 but could be extended for up to five years under the city’s gaming laws
In July, Macau’s secretary for economy and finance said a public consultation on gaming law will be held in the second half of this year. Now, the committee of legislators urged the government to announce an exact date “to avoid causing constant doubts in society.”
Last November, authorities insisted that the public tender to renew casino licences would not be delayed due to the Covid-19 pandemic and that new legislation would be ready in time for when licences expire in 2022.
However, that will depend on the length of the public consultation and on the upcoming Legislative Assembly elections. Several industry experts believe the process will be delayed until after the elections so that new legislators will be in charge of amending Macau’s gaming law.
Experts expect changes to licence criteria
In April, Lobo Viela released a research paper that said the city’s gaming licence criteria should require “commitments relating to several non-core activities.” The paper noted that Macau is “excessively dependent on tourism and gaming.”
Analysts also suggest there should be a requirement for investment in the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) to create an international world-class tourism destination that recognises the uniqueness of Macau’s cultural and social resources.
Another report entitled “The economic impact of a global pandemic on the tourism economy: the case of COVID-19 and Macao’s destination- and gambling-dependent economy” suggested that state casino operators should turn to online gambling and technology.
The report by Weng Marc Lim and Wai-Ming To said casino operators should “leverage on the technological advances such as virtual reality, to deliver a revamped online gambling experience.”
They said online gambling combined with virtual reality could help curb gambling addiction and boost casino operators’ revenue.
