Aug 31, 2014 Newsdesk Latest News, Macau, Top of the deck  
Fernando Chui Sai On was elected on Sunday – as expected – for a second consecutive five-year term as Macau’s chief executive, the city’s top political post.
Mr Chui, who was running uncontested, received 96 percent of the votes.
His endorsement came via a committee of 400 people, mostly composed of pro-business and pro-Beijing figures. No member of the electoral committee is directly elected by the people of Macau.
The committee featured several people connected to the gaming industry, including MGM China Holdings Ltd co-chairperson Pansy Ho Chiu King; Galaxy Entertainment Group Ltd vice-chairman Francis Lui You Tung; and SJM Holdings Ltd chief executive Ambrose So Shui Fai, among others.
First elected chief executive in 2009 – also running unopposed – Mr Chui is now expected to remain in post until December 2019. He is prevented by law from running for a consecutive third term.
Mr Chui has yet to say whether he will invite Secretary for Economy and Finance Francis Tam Pak Yuen, who oversees the gaming portfolio, to carry on in his position. Mr Tam has been in office for 15 years.
Mr Chui pledged during his re-election campaign to carry out a public consultation on the casino concession renewal process ahead of making any decision on the matter.
The Macau government has stated several times that between the years 2015 and 2016 it intends to start examining the renewal of the concessions. Macau’s six casino concessions expire between 2020 and 2022.
Mr Chui’s political manifesto also stated that casino operators should “facilitate the provision” of accommodation and transportation to their migrant workers, know locally as ‘non-resident workers’ or ‘blue card holders’. He has yet to elaborate on what that could mean.
The existing rules in Macau oblige all companies to provide housing to their migrant workers or pay them a monthly housing allowance of at least MOP500 (US$62.60) – the amount was set in 2010. Several gaming operators, especially those with properties in Cotai, already provide shuttle bus services to their workers, both locals and migrants.
In his political manifesto, Mr Chui also stated he aims to implement rules so that gaming operators give priority to local companies regarding product and service procurement.
Macau’s economy is highly reliant on casino gaming. The sector’s revenues were equivalent to almost 80 percent of the city’s GDP for the three months to June 30.
Jun 08, 2023
Jun 07, 2023
Jun 09, 2023
Jun 09, 2023
Jun 09, 2023
None of Macau’s six gaming concessionaires have so far applied for a form of “exemption” from the full 40-percent tax rate on casino gross gaming revenue (GGR), as potentially applicable...Jun 09, 2023
Commercial opportunities for utilisation of...Jun 08, 2023
Gaming content and equipment maker Konami says it is...Jun 07, 2023
Casino gaming content and hardware provider Light &...Jun 06, 2023
Electronic table games (ETGs) supplier Interblock dd is...Jun 05, 2023
Random number generator (RNG) testing tools are among the...Jun 01, 2023
Alfastreet, a manufacturer of electronic gaming machines,...Jun 01, 2023
Casino equipment maker Sega Sammy Creation Inc is tweaking...Jun 01, 2023
The iGaming segment in Asia “has grown rapidly” since...May 31, 2023
Showing slot machine players – via animations on the...May 31, 2023
Macau stocks in likelihood “have been punished too much...May 31, 2023
There are foreign companies still interested in investing...May 31, 2023
Thailand could pass the necessary enabling legislation for...May 30, 2023
China will remain a key market for Asian gaming...May 30, 2023
Alejandro Tengco (pictured in a file photo), chairman and...May 30, 2023
There are “plenty of reasons” for the global gaming...May 30, 2023
Gaming equipment provider International Game Technology Plc...May 30, 2023
The Global Gaming Expo (G2E) Asia 2023 Special Edition:...May 29, 2023
Austria-based gaming equipment maker and operator Novomatic...May 25, 2023
Sports betting and online casino operating platform...May 24, 2023
The business performance in Asia of gaming content and...May 18, 2023
The organisers of Global Gaming Expo (G2E) Asia 2023...May 17, 2023
Gaming content and equipment supplier Light & Wonder...May 16, 2023
Casino equipment maker Sega Sammy Creation Inc is to...May 09, 2023
Casino slot machine and digital gaming content provider...May 05, 2023
The Global Gaming Expo (G2E) Asia event in Singapore is the...May 04, 2023
An adviser to a Thailand parliamentary committee mulling...(Click here for more)
”We believe the intrinsic value of IGT’s market-leading businesses and diversified cash flow profile is not currently reflected in our stock price and the timing is right to assess opportunities that may enhance value for IGT’s shareholders”
Marco Sala
Executive chair of casino equipment supplier IGT