{"id":24382,"date":"2021-11-10T09:09:38","date_gmt":"2021-11-10T12:09:38","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24382"},"modified":"2026-04-23T13:59:08","modified_gmt":"2026-04-23T16:59:08","slug":"wynn-resorts-ceo-praises-macaus-gaming-law-consultation-sessions","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/wynn-resorts-ceo-praises-macaus-gaming-law-consultation-sessions","title":{"rendered":"Wynn Resorts CEO praises Macau’s gaming law consultation sessions"},"content":{"rendered":"\n

Matt Maddox, Wynn Resorts CEO, has described the public consultation sessions on gaming law amendments as “transparent and productive.”<\/p>\n\n\n\n\n\n\n\n

Macau.- During the company’s quarterly results conference call, Wynn Resorts CEO Matt Maddox<\/strong> praised Macau’s public consultation sessions<\/strong>\u00a0on gaming law amendments. Maddox said the process was “open, transparent, and productive” and that the company feels very good about the future of Macau and Wynn’s position in the city.<\/p>\n\n\n\n

Between September 15 and October 29,\u00a0359 people attended the public consultation sessions<\/a>\u00a0on gaming laws. The meetings were attended by representatives from gaming and junket operators<\/strong>, gaming sector workers, representatives of the social services sector, the legal sector, the education sector, associations and private citizens.<\/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

Maddox said Macau authorities were focusing \u201con the long-term health and stability\u201d of the industry and the region. He said: “I can\u2019t give any specific dates or timeline, but what I can tell you is we\u2019re very confident in the process.”<\/p>\n\n\n\n

Ian Coughlan, president of Wynn Macau Ltd also referred to Macau’s revision of its gaming law and concerns regarding the government\u2019s proposed changes.<\/p>\n\n\n\n

Coughlan stated: \u201cAll of the concessionaires have similar concerns, and we believe that the fact that we\u2019ve aired them and shared them, that they will be given very serious consideration.\u201d<\/p>\n\n\n\n

According to local media reports,\u00a0authorities in Macau want to end the current sub-concession system<\/strong>\u00a0that led to the creation of three\u00a0additional Macau casino licences<\/a>.\u00a0The 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

Authorities have also proposed\u00a0the election of \u201cdelegates\u201d to Macau\u2019s gaming concessions<\/strong> to allow a \u201cgreater checking\u201d limit on the activity of 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":"

Matt Maddox, Wynn Resorts CEO, has described the public consultation sessions on gaming law amendments as “transparent and productive.”<\/p>\n","protected":false},"author":176,"featured_media":23653,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Wynn Resorts CEO Matt Maddox lauded Macau's gaming law amendment consultation as transparent and productive, despite industry concerns over proposed changes. Key amendments include ending the sub-concession system, increasing oversight of concessionaires and junkets, and requiring government endorsement for profit distribution, significantly impacting future operational and financial governance frameworks.","focusai_entities":"Matt Maddox, Wynn Resorts, Wynn Macau Ltd, Ian Coughlan","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.9), operator_casino (0.98), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Sub-concession Impact?","query":"What are the projected financial and operational implications for existing sub-concessionaires if Macau's government proceeds with ending the current sub-concession system?"},{"label":"Profit Distribution Controls?","query":"How will the proposed government endorsement requirement for profit distribution impact capital allocation strategies and shareholder returns for Macau's gaming concessionaires?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906,20777],"class_list":["post-24382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-casinos","tag-wynn-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24382","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=24382"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24382\/revisions"}],"predecessor-version":[{"id":24397,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24382\/revisions\/24397"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/23653"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}