Authorities have revealed that most opinions were against the proposed controls on dividend distribution.
Macau.- The Gaming Inspection and Coordination Bureau (DICJ) has shared results from the consultation sessions held on proposed changes to Macau’s gaming legislation. Four public consultations on gaming laws were held between October 22 and 25.
The report suggests the majority of opinions shared during the consultation were against proposed controls on dividend distribution. The government has promised to consider the concerns expressed and suggestions.
The report stated: “Most of the opinions disagree with the respective proposal. They understand that establishing prior authorization from the Government constitutes a limitation that will interfere with the free market and may ward off the interest of concessionaires/sub-concessionaires in investing.”
As for the introduction of “delegates” to Macau’s gaming concessions to create a greater checking limit on the activity of the gaming firms, 57 people agreed with the proposal while 38 people were against it. The government said it understood the view that government representatives may interfere with operators’ activities and independence.
On the number and duration of future gaming concessions, the majority of opinions were in favour of increasing the number of franchises from the current three to six. The majority also agreed with the government’s proposal to end the current sub-concession system.
Regarding the length of casino concessions, 42 per cent said they should be less than the current 20 years; 32 per cent of people agreed with the current length and 9.9 per cent wanted a longer period.
Authorities said: “In the development process of the gaming sector, maintaining a certain size constitutes an important basis for guaranteeing social stability and employment of residents.”