Lei Wai Nong, secretary for economy and finance, has said that the first session being cancelled, the consultation will run until October 29 as was planned.<\/p>\n\n\n\n\n\n\n\n
Macau.- Macau’s\u00a0public consultation on gaming laws<\/a>\u00a0will run until October 29 despite the cancellation of the first session due to Covid-19 cases<\/a>\u00a0in the city. Lei Wai Nong, <\/strong>secretary for economy and finance, has said the schedule will continue for the planned 45 days.<\/p>\n\n\n\n He said specialists would follow advice from the Health Bureau but guaranteed the pandemic would not affect the projected gaming law amendment timetable.\u00a0According to local media reports,\u00a0<\/strong>authorities in Macau want to end the current sub-concession system<\/a>\u00a0that led to the creation of three additional Macau casino licences.<\/p>\n\n\n\n The government also wants\u00a0to increase the oversight of gaming concessionaires and junket operations<\/strong>, but it will maintain at least six gaming concessions. Representatives from Macau\u2019s casino operators<\/strong>\u00a0have attended\u00a0a public consultation session with authorities<\/a>\u00a0and asked for more information on the government\u2019s proposed changes.<\/p>\n\n\n\n SJM Holdings Ltd, Galaxy Entertainment Group Ltd and Wynn Macau Ltd\u00a0<\/strong>expressed concerns about the idea of raising the minimum share capital required for the gaming companies. Casino operators also said the government should give more details on the proposal that gaming concessionaires be part held by a Macau resident.<\/p>\n\n\n\n After the gaming law revision is finished, there will be 180 days to write the final report, after which a draft will be submitted to the Legislative Assembly for additional conversation.\u00a0<\/p>\n\n\n\n Macau\u2019s current casino licences are due to expire in June 2022<\/strong>. However, under the current city\u2019s gaming laws, Macau’s gaming concessions can be extended for up to five years<\/strong> from the original 20-year term. <\/p>\n\n\n\n Lei Wai Nong also confirmed the city will have to revise its budget<\/a> as he expects casino gross gaming revenue will fail to recover.<\/p>\n\n\n\n