• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Features
  • Industry Talk
  • Trends & Tech
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Macau gaming law revision by 4Q 2021 says new policy doc

Nov 16, 2020 Newsdesk Latest News, Macau, Top of the deck  


Macau gaming law revision by 4Q 2021 says new policy doc

The amendment of Macau’s Gaming Law is to be part of the local government’s agenda for 2021, said on Monday Macau’s Chief Executive, Ho Iat Seng, in the city government’s Policy Address for the next fiscal year.

The address was at a meeting of the Legislative Assembly (pictured). Mr Ho said that for 2021, the Macau government would work to “improve the legal framework for the gaming industry”, and “start the preparatory work for Macau’s gaming concessions”. That was understood to be a reference to a public retender process occasioned by the expiry in June 2022 of the six existing Macau gaming licences.

According to the more detailed policy document released following Mr Ho’s address, the local government plans to start revising the city’s gaming law by the first quarter of next year, and to complete the task by the fourth quarter, prior to submitting a finalised draft bill to the Legislative Assembly. But the timetable could be influenced by a public consultation process the government has pledged to hold, the document noted.

Macau’s Secretary for Economy and Finance, Lei Wai Nong, had in October mentioned to the media that the government planned to have ready by 2021, a bill amending the city’s gaming law. The local authorities say such a step is necessary, ahead of a public retender process.

At a press briefing following the Policy Address speech, Macau’s Chief Executive declined to comment on what he said was the “speculative” issue of whether the city’s government would consider any extension of the city’s current gaming concession terms.

Angela Leong On Kei, a legislator and also an executive director at Macau gaming licensee SJM Holdings Ltd, told public broadcaster TDM Chinese radio that a timetable for the Macau gaming concessions retender timetable – absent in the Policy Address 2021 document -  would still be subject to developments in the Covid-19 pandemic.

But Ms Leong said she believed that the existing local gaming operators would be “prepared” to meet relevant requirements of the Macau government regarding a refreshment process over gaming rights.

The Macau government would continue to “foster responsible gambling”, and to “combat illegal gambling” activities, Mr Ho told the legislators in his address during today’s Legislative Assembly gathering.

The policy document, also said the Macau government would “update and elaborate” the reporting standards on “substantial transactions” of the city’s gaming operators and junket operators, and “strengthen due diligence” on gaming operators’ electronic transfers of “capital”. It was not clear whether that was a reference to money for VIP gambling, or some other form of fund transfer.

(Updated 6.30pm, Nov 16)


  • tweet
Related articles
  • Macau govt leaves door open to casino concession extension
    Macau govt leaves door open to casino...

    Dec 23, 2020  

  • Gaming law expert Vilela leaving Macau govt advisory role
    Gaming law expert Vilela leaving Macau...

    Dec 18, 2020  

More news
  • Sands China to pay US$2.4mln tax re Gondola Ride: court
    Sands China to pay US$2.4mln tax re...

    Mar 04, 2021  

  • A fresh US$2-bln casino project proposed for Vietnam
    A fresh US$2-bln casino project...

    Mar 04, 2021  


Latest News

Sands China to pay US$2.4mln tax re Gondola Ride: court

Sands China to pay US$2.4mln tax re Gondola Ride: court

Mar 04, 2021  

Macau’s Court of Second Instance has upheld decisions by a public department in the city, ordering casino operator Sands China Ltd to pay a total of MOP18.9 million (US$2.4 million) in tourism tax...
Read More
A fresh US$2-bln casino project proposed for Vietnam

A fresh US$2-bln casino project proposed for Vietnam

Mar 04, 2021  

LVS plans to keep U.S. base, stock listing: spokesman

LVS plans to keep U.S. base, stock listing: spokesman

Mar 04, 2021  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Partners

Pick of the Day

“Asia remains the backbone of this company and our developments in Macau and Singapore are the centre of our attention”

Robert Goldstein

Chairman and chief executive of casino operator Las Vegas Sands



Most Popular

  • Lim Kok Thay, GEN Singapore execs in US$1.3mln stock awardLim Kok Thay, GEN Singapore execs in US$1.3mln stock award March 2, 2021
  • Las Vegas Sands to sell off Nevada assets for US$6.25blnLas Vegas Sands to sell off Nevada assets for US$6.25bln March 3, 2021
  • Covid-19 test cert no longer needed for Macau casino entryCovid-19 test cert no longer needed for Macau casino entry March 2, 2021
  • Galaxy Macau to add Raffles-branded hotel towerGalaxy Macau to add Raffles-branded hotel tower March 1, 2021
  • Macau casino GGR down 9pct m-o-m in February: govtMacau casino GGR down 9pct m-o-m in February: govt March 1, 2021
Copyright 2014-2021 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us