As part of the retendering process for gaming licences, Macau authorities could introduce a rule to regulate casino operators’ corporate social responsibility.
Macau.- A paper from an academic at Macau University of Science and Technology (MUST) suggests Macau should regulate casino operators’ corporate social responsibility (CSR).
The suggestion comes ahead of the upcoming retendering of Macau’s casino licences. According to Yan Wenjia, assistant professor at MUST’s School of Business, the regulation of CSR should be limited and meet the needs of society for the sustainable development of the gaming industry.
The paper suggests Macau lacks a comprehensive CSR code. It states: “It would be appropriate in restraining local protectionism, rather than purely satisfying the residents by imposing unjustifiable and unfair CSR in the sense of market economy on the casino operators.”
The report concludes the government should intervene on CSR prudently and in a limited way.
Legislator Ella Lei Cheng I has recently said that legislators are suggesting the government conduct an assessment on how Macau’s gaming companies have exercised their contracts.
In April, a report entitled“The case of Covid-19 and Macao’s destination- and gambling-dependent economy”, argued that Macau should turn to online gambling and technology to help its recovery from the pandemic.
Macau’s current casino licences will expire in June 2022, but could be extended for up to five years under to the city’s gaming laws.