{"id":23312,"date":"2021-10-06T10:08:46","date_gmt":"2021-10-06T13:08:46","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=23312"},"modified":"2026-04-23T15:01:55","modified_gmt":"2026-04-23T18:01:55","slug":"mgm-ceo-has-no-worries-about-increased-control-over-macaus-casinos","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-ceo-has-no-worries-about-increased-control-over-macaus-casinos","title":{"rendered":"MGM CEO has no worries about increased control over Macau\u2019s casinos"},"content":{"rendered":"\n

Bill Hornbuckle, MGM president and CEO, has said he is not worried about increased oversight of gaming concessionaires and junket operations.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Bill Hornbuckle, MGM president and CEO\u00a0<\/strong>has said that he has no concerns about the proposed changes to Macau’s gaming laws, and that and tighter controls shouldn’t modify the industry<\/strong>.<\/p>\n\n\n\n

During an interview with Yahoo Finance, he said the Gaming Inspection and Coordination Bureau (DICJ) already maintained significant oversight over operations.\u00a0<\/p>\n\n\n\n

Hornbuckle noted that he is optimistic as casinos contribute to 80 per cent of government revenue and are a key driver for Macau\u2019s economy. He said: “We are hoping rational minds control in the end because this is the Macau economy.”<\/p>\n\n\n\n

A few weeks ago\u00a0Matt Maddox, chief executive of Wynn Resorts Ltd<\/a>, expressed a similar opinion. He said Macau\u2019s intention to increase the oversight of gaming concessionaires was a practical decision rather than a punitive one.<\/p>\n\n\n\n

According to local media reports,\u00a0<\/strong>authorities in Macau want to\u00a0end the current sub-concession system<\/a>\u00a0that led to the creation of three additional Macau casino licences. The government also wants\u00a0to increase the oversight of gaming concessionaires and junket operations<\/strong>, but it will maintain at least six gaming concessions.<\/p>\n\n\n\n

Macau\u2019s current casino licences are due to expire in June 2022<\/strong>. However, the city\u2019s gaming laws state that licences can be extended for up to five years<\/strong> from the original 20-year term.<\/p>\n\n\n\n

Casino operators request more info on Macau gaming law changes<\/h2>\n\n\n\n

Representatives of Macau\u2019s casino operators<\/a> attended a public consultation session with authorities on the revision of the city\u2019s gaming law.<\/p>\n\n\n\n

According to local media reports, SJM Holdings Ltd, Galaxy Entertainment Group Ltd and Wynn Macau Ltd <\/strong>expressed concerns about the idea of raising the minimum share capital required for the gaming companies.<\/p>\n\n\n\n

Casino operators also said the government should give more details on the proposal that gaming concessionaires should be part held by a Macau resident.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bill Hornbuckle, MGM president and CEO, has said he is not worried about increased oversight of gaming concessionaires and junket operations.<\/p>\n","protected":false},"author":176,"featured_media":21858,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"MGM President and CEO Bill Hornbuckle, aligning with Wynn Resorts' Matt Maddox, expressed confidence in Macau's proposed gaming law revisions, despite increased oversight for concessionaires and junket operations. While the government aims to strengthen control and potentially end sub-concessions, operators like SJM Holdings, Galaxy Entertainment, and Wynn Macau seek clarity on proposals regarding minimum share capital and local resident ownership requirements ahead of license expirations in June 2022.","focusai_entities":"Bill Hornbuckle, MGM, Yahoo Finance, Gaming Inspection and Coordination Bureau (DICJ), Matt Maddox, Wynn Resorts Ltd, SJM Holdings Ltd, Galaxy Entertainment Group Ltd, Wynn Macau Ltd","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (0.9), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Law Impact","query":"What specific financial and operational adjustments are Macau's gaming concessionaires preparing for, given the proposed increases in minimum share capital and local resident ownership requirements?"},{"label":"Concession System Future","query":"How might the potential termination of the sub-concession system in Macau reshape the competitive landscape and market entry barriers for future gaming operators?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23911,23906,16615],"class_list":["post-23312","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-gambling-regulation","tag-macau-casinos","tag-mgm-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23312","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23312"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23312\/revisions"}],"predecessor-version":[{"id":23326,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23312\/revisions\/23326"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21858"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}