Macau moves forward with gaming law amendment
The government received a preliminary proposal to amend its gaming law, which would lay the ground for the upcoming licence rebidding process.
Macau.- Secretary for Economy and Finance Lionel Leong Vai Tac revealed that the Macanese government has received a preliminary proposal to amend its current gaming law. The legislation’s modification would mean a major step, especially ahead of the rebidding process of the city’s gaming concession licences, which will begin in 2020.
“We’ve said before that the awarding of the gaming concession contracts will have to be done via a bidding process, and the related law needs to be amended as well. We are now having an internal study on (the proposal),” Mr Leong told the local media. However, he didn’t give any details of the document and only stated that the government would “listen to social opinions and analyse them” before the bidding process.
The first licence to expire in Macau will be the one that SJM Holdings Ltd holds, in addition to MGM China Holdings Ltd’s, in 2020. The company’s vice-chairman and chief executive Ambrose So Shu Fai explained that they’ll look forward to getting a two-year extension in order to match its calendar with the other licensees whose permits expire in 2022.
