• 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
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Macau gaming bill final read maybe in June: legislator

Feb 14, 2022 Newsdesk Latest News, Macau, Top of the deck  


Macau gaming bill final read maybe in June: legislator

Macau’s Legislative Assembly (pictured) is expected to give a final reading to the gaming law amendment bill by June 26 this year, also the date of the expiry of the city’s six gaming concessions, noted on Monday, legislator Chan Chak Mo, the head of an assembly committee tasked with examining the bill. If so, the government might be able – on a concurrent basis – to start the documentation work required for the gaming-concession retender process.

Mr Chan said so to the local press, following the sub-committee’s first meeting to review the gaming law amendment bill, held behind closed doors with legal consultants from the assembly.

Several legislators that are not part of the sub-committee – including Angela Leong On Kei, co-chairperson and executive director of incumbent operator SJM Holdings Ltd – were permitted to be observers at the Monday meeting.

Mr Chan said Monday’s discussion focused on the bill’s proposed articles on the suitability requirements for the “managing director” of a gaming concession entity; and the government-proposed recognition of a “management company” entity that would be responsible for managing all or part of a casino of a gaming concessionaire. Historically, the concept of a management company has encompassed management services for functions at so-called satellite casinos.

The bill has proposed that the managing director of a gaming concession – who has to be a Macau permanent resident – would need to hold at least 15 percent of the concession entity’s share capital. The requirement under the current gaming law framework is they should hold 10 percent.

Other government suggestions in the bill include the need to increase the minimum share capital requirement for any local casino concessionaire to MOP5 billion (US$625 million) from the existing MOP200-million threshold.

“That means the managing director [of a gaming concessionaire] has to have MOP750 million [in share capital] ready… so there are questions on who in Macau has that financial capacity,” Mr Chan told reporters.

Legislators would like to understand the government’s rationale on the new share-capital requirement for a gaming concession’s managing director, Mr Chan added. “With this proposal, there are questions on whether [it] really helps Macau locals to have a bigger say in the city’s gaming industry development,” he said.

Monday’s discussions also covered whether the managing director of a Macau gaming concession would be permitted to “possess dual nationality” or whether there would need to be a test of whether they were “patriotic” – a reference to their attitude to the Chinese motherland – in addition to their experience in the industry or their academic background, Mr Chan said.

The sustainability of the city’s existing satellite casinos had also been a topic that prompted “much debate” during the Monday meeting, added Mr Chan.

The bill proposed that satellite gaming venues will be given a three-year grace period to tie ownership of their premises directly to a gaming concessionaire.

Concerns raised included how many satellites would be able to achieve such a step, and what impact the rule might have on local employment at satellites, Mr Chan said.

The sub-committee discussion continues this week.


  • tweet
Related articles
  • SJM flags US$994mln 2022 loss on impairment charge
    SJM flags US$994mln 2022 loss on...

    Mar 07, 2023  

  • Macau assembly final nod to bill on junkets, satellites
    Macau assembly final nod to bill on...

    Dec 15, 2022  

More news
  • Pagcor chairman keynote speech at SiGMA Asia
    Pagcor chairman keynote speech at SiGMA...

    Mar 28, 2023  

  • 3-month eVisa plan to boost Vietnam tourism: report
    3-month eVisa plan to boost Vietnam...

    Mar 28, 2023  


Latest News

Pagcor chairman keynote speech at SiGMA Asia

Pagcor chairman keynote speech at SiGMA Asia

Mar 28, 2023  

Alejandro Tengco (pictured), chairman and chief executive of the Philippine Amusement and Gaming Corp (Pagcor), is to give the keynote speech for the opening of the SiGMA Asia conference for the...
Read More
3-month eVisa plan to boost Vietnam tourism: report

3-month eVisa plan to boost Vietnam tourism: report

Mar 28, 2023  

Kangwon Land slot brand Manila office eyes SE Asia sales

Kangwon Land slot brand Manila office eyes SE Asia sales

Mar 28, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

”The data and evidence on hand all point to the same conclusion: enough is enough. It is time to ban offshore gaming operations in the Philippines, once and for all”

Sherwin Gatchalian

Chairman of the Committee on Ways and Means of the Senate of the Philippines



Most Popular

  • Raffles hotel checks complete at Galaxy Phase 3: MGTORaffles hotel checks complete at Galaxy Phase 3: MGTO March 27, 2023
  • Melco’s Studio City has foreigner-only bet zone: checksMelco’s Studio City has foreigner-only bet zone: checks March 27, 2023
  • Foreigners can use HK-Macau free ticket says tourism bossForeigners can use HK-Macau free ticket says tourism boss March 27, 2023
  • Macau diversification into non-gaming to remain slow: FitchMacau diversification into non-gaming to remain slow: Fitch March 24, 2023
  • Philippine lawmaker wants POGOs shut within 3 monthsPhilippine lawmaker wants POGOs shut within 3 months March 27, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us