David Chow, Macau Legend Co-Chairman, is against the government\u2019s proposed changes to reduce the number of concessionaires.<\/p>\n\n\n\n\n\n\n\n
Macau.- David Chow, Macau Legend’s co-chairman has expressed his concerns about the proposal to\u00a0end the current sub-concession system<\/a>\u00a0that led to the creation of three additional Macau casino licences. The proposal was made in Macau’s\u00a0revision of existing gaming law<\/a>.<\/p>\n\n\n\n Chow, who also has investments in agriculture, banks, casinos and hotels, and is currently developing tourism projects in Cape Verde, said that “the number of gaming dealers should not be eliminated\u00a0<\/strong>because the number of dealers is small, leading to oligopoly or monopoly.”<\/p>\n\n\n\n Chow\u00a0questioned the authorities\u2019 argument that \u201cquality is more important than quantity\u201d.\u00a0<\/strong>The government also wants\u00a0to increase the oversight of gaming concessionaires and junket operations<\/strong>. <\/p>\n\n\n\n With\u00a0the current concessions to expire on June 26, 2022<\/strong>, the government will conduct an open tender to grant the new concessions. Chow believes the concession period should be divided into two types: new investors and old investors.<\/p>\n\n\n\n According to Macau Business, he said: “The participation of new investors must be encouraged and new competition mechanisms introduced.”<\/p>\n\n\n\n Authorities have also proposed electing \u201cdelegates\u201d to Macau\u2019s gaming concessions<\/strong>, so it can have a \u201cgreater checking\u201d limit on the activity of the gaming firms. A delegate system is already used to monitor other forms of public concession.<\/p>\n\n\n\n Government delegates would be sent to gaming concessionaries <\/strong>to enable the direct monitoring of daily operations. Authorities have also suggested that administrators should meet certain requirements<\/strong> and get government endorsement before distributing profits, regardless of whether it be in cash or shares.<\/p>\n","protected":false},"excerpt":{"rendered":" David Chow, Macau Legend Co-Chairman, is against the government\u2019s proposed changes to reduce the number of concessionaires.<\/p>\n","protected":false},"author":176,"featured_media":22076,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau Legend Co-Chairman David Chow opposes the Macau government's proposed gaming law revisions, particularly the reduction of concessionaires and the elimination of the sub-concession system, arguing it fosters oligopoly. He advocates for encouraging new investors and competition through a differentiated concession tender process. The proposed changes also include increased government oversight via \"delegates\" and mandatory endorsement for profit distribution, significantly impacting operational governance and market structure.","focusai_entities":"David Chow, Macau Legend","focusai_location":"Macau, Cape Verde","focusai_target_profile":"ceo_executive (0.95), regulator (0.98), compliance_legal (0.92), operator_casino (0.96), investor_analyst (0.94), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Concession Tender Criteria?","query":"What specific criteria will the Macau government prioritize in evaluating bids for the new gaming concessions, particularly regarding the emphasis on 'quality over quantity'?"},{"label":"Delegate System Impact?","query":"How might the proposed 'delegate' system for direct operational monitoring impact the autonomy, efficiency, and proprietary decision-making processes within Macau's gaming concessionaires?"}],"footnotes":""},"categories":[157,16338],"tags":[23907,23906,22593],"class_list":["post-23859","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-land-based-casino","tag-macau-casinos","tag-macau-legend"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23859","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=23859"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23859\/revisions"}],"predecessor-version":[{"id":23883,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23859\/revisions\/23883"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22076"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}