GGRAsia – China vice premier urges orderly review of Macau gaming law

China vice premier urges orderly review of Macau gaming law

Mar 07, 2022 Newsdesk Latest News, Macau, Top of the deck

A mainland Chinese state leader has urged the Macau community to support the revision of the city’s gaming law, in order to ensure the healthy development of the local casino sector. His comments were reported by public broadcaster TDM, citing Macau representatives to a national advisory body.

Vice Premier Han Zheng, the state leader overseeing Macau affairs, made the remarks during a meeting on Sunday with Macau delegates attending the annual session of the country’s top advisory body, the Chinese People’s Political Consultative Conference (CPPCC), in Beijing.

TDM cited Chui Sai Cheong, one of Macau’s CPPCC delegates, as saying that Mr Han had highlighted that the gaming law amendment bill was aimed at ensuring the healthy development of the city’s casino industry. Mr Chui is also the vice president of Macau’s Legislative Assembly.

The city’s legislature is already discussing the amendment bill, which is to be approved ahead of a new public tender regarding fresh gaming rights. The Macau government has proposed in its bill that there will be no more than six concessions, and no sub-concessions, available under the new tender.

Earlier this month, the Macau government announced the intention to extend for about six months the existing gaming licences, to December 31.

Lei Wai Nong, Macau’s Secretary for Economy and Finance, said on Thursday that the government had requested gaming operators to submit relevant documents for it to proceed and approve the extension of their licences. He added at the time that the authorities had not yet received any relevant application regarding such an extension.

The six operators have confirmed to GGRAsia they were preparing the required documentation to apply for such an extension.

Brokerage JP Morgan Securities said last week it expected a new public tender process for Macau casino rights to commence in the third quarter this year, with permits to be awarded in the fourth quarter, ready for a new 10-year licence period coinciding with the start of 2023.