Macau legislators have approved the first reading of the gaming bill with 30 votes in favour and one against.<\/p>\n\n\n\n\n\n\n\n
Macau.- Macau\u2019s Legislative Council has approved the first reading of the gaming law amendment bill with just one vote against it. <\/p>\n\n\n\n
The\u00a0amendment bill<\/a> sets out a gaming concession period of up to 10 years\u00a0that can be extended for a further three years in exceptional circumstances. There would remain up to six concessions but the\u00a0current sub-concession system<\/a>\u00a0would end.<\/p>\n\n\n\n The bill proposes that casino operators in Macau be given\u00a0minimum annual casino gross gaming revenue (GGR) targets<\/strong>, which would be calculated based on the\u00a0maximum number of gaming tables and gaming machines<\/strong>\u00a0each gaming concessionaire is permitted to operate.\u00a0The bill would allow\u00a0junket operators to each provide services to only one casino operator<\/strong>.<\/p>\n\n\n\n Li Wei Nong, Macau’s Secretary for Economy and Finance, who attended the reading, said the entire process may not be completed<\/strong>\u00a0before the six existing casino concessions expire on June 26. Authorities will consider extending existing licensees to the extent permitted by current gaming laws.<\/p>\n\n\n\n Eleven legislators raised questions about the draft law<\/strong>, in particular, about the proposed requirements for the link between satellite casino venues and gaming concessionaires, and the potential impact the measure could have on local employment. However, Li Wei Nong said the bill doesn’t want to “kill the gaming industry”.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":" Macau legislators have approved the first reading of the gaming bill with 30 votes in favour and one against.<\/p>\n","protected":false},"author":176,"featured_media":26551,"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's Legislative Council has provisionally approved the gaming law amendment bill, which proposes a maximum 10-year concession period, the elimination of sub-concessions, and the introduction of minimum annual GGR targets for operators. The legislation also restricts junket operators to a single casino concessionaire, prompting stakeholder inquiries regarding satellite casino integration and potential employment ramifications.","focusai_entities":"Li Wei Nong","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Target Methodology","query":"How will the minimum annual GGR targets be calculated for each concessionaire, and what are the potential financial implications for operators failing to meet these benchmarks?"},{"label":"Satellite Casino Future","query":"What specific requirements for the link between satellite casino venues and gaming concessionaires are being considered, and what is the projected impact on their operational viability and local employment?"}],"footnotes":""},"categories":[16338,154,158],"tags":[23911,23906],"class_list":["post-26532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-legislation-news","category-slider-home","tag-gambling-regulation","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26532","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=26532"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26532\/revisions"}],"predecessor-version":[{"id":26541,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26532\/revisions\/26541"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26551"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=26532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=26532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=26532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}