Chinese Vice Premier Urges Macau Locals To Support New Gaming Bill
Summary
- Chinese VP asks Macau residents to support gaming law amendment
- New gaming law requires operators to apply for new gaming license
- Casino operators could lose license if they threaten China’s security
China’s Vice Premier Han Zheng has called on the residents of Macau to support the city’s gaming law amendment bill. Zheng who oversees Macau’s affairs, made the remarks in a meeting with Macau’s delegates during the annual session of the Chinese People’s Political Consultative Conference (CPPCC) held on March 6, 2022, in Beijing.
Gaming Law to Help Develop Macau’s Local Casino Industry
Chui Sai Cheong, a CPPCC delegate from Macau and the vice president of the city’s legislative assembly, affirmed Han’s opinion of the gaming law amendment bill being immensely helpful in ensuring the development of Macau’s local casino industry.
Currently, Macau’s legislative assembly is discussing the amendment bill. The bill is yet to be approved before a new public tender for fresh gaming rights is available. Analysts from JP Morgan Securities had said that the tender process would most likely begin in the third quarter of 2022. The permits for a 10-year license period coinciding with the start of 2023 might be awarded in the fourth quarter.
On March 3, 2022, the government announced the extension of existing gaming licenses for six months, till December 31. According to the provisions in the bill, the new tender will allow for six concessions at a maximum. There will be no sub-concessions.
Lei Wai Nong, Macau’s Secretary for Economy and Finance announced on March 3, that gaming operators must file relevant documentation to extend their respective licenses. At that time, Lei said that the authorities were yet to receive an application for the license extension. A news portal announced that the six operators confirmed that they were preparing the documents required to apply for the extension.
Macau Legislative Assembly Discusses Security Clause in Gaming Law
On 4 March, the legislative assembly discussed a clause in the gaming law amendment bill regarding what would be considered as an endangerment to national security. The bill said that the Macau Chief Executive could terminate a concessionaire’s contract for threatening the national, or the city’s security.
The Macao Gaming Committee would analyze the decision before its enactment. The gaming concessionaire would be able to appeal against the decision. Legislator Chan Chak Mo opined that the process would be administrative, rather than criminal. The bill is due for a final reading in June 2022. Chak Mo also revealed that Galaxy Entertainment Group Ltd, Wynn Macau Ltd, and Sands China Ltd had submitted their respective queries about the bill to the assembly.
David WalkerAuthor
David is our resident 'down under' contributor, letting us know what is going on in the southern hemisphere, he is also keen blackjack player
