Long-time STDM lawyer and founder of the Rui Cunha Foundation, Dr Rui Cunha, has poured cold water on the prospect of introducing a seventh Macau concessionaire.
Speaking to Inside Asian Gaming at the 11th International Conference of Legal Reforms of Macau in the Global Context, held in Wu Yee Sun Library at the University of Macau on Thursday, Dr Cunha said, “I don’t think there’s much space for many more operators … a proliferation of gaming concessionaires wouldn’t be very healthy for Macau.”
The veteran lawyer said he instead supports continuity of the current model of six concessionaires – SJM, Sands China, Galaxy, Wynn Macau, MGM China and Melco Resorts – but warned that regulators may need to consider relaxing the jurisdiction’s strict rules when the re-tendering process begins in the coming years due to increasing regional competition.
The gaming licenses of SJM and MGM both expire in 2020 while the remaining four all expire in 2022.
“Macau will have to be necessarily more calculating, because adopting very rigorous measures and the application of too heavy taxes when competing locations may experience more favorable situations can drive Macau to a decline in visitors and bettors,” he said.
The issue was also touched upon during a panel moderated by Dr Cunha on Thursday titled “Analysis of practices of casino gaming concessions in Macao from the perspective of institutional economics.”
Commenting on potential adjustments to Macau gaming law under re-tendering, Ricardo Siu, Associate Professor for the Study of Commercial Games of the Business Management Faculty of the University of Macau, said legislation doesn’t “need to be 100% perfect … but there are some important areas that legislation can always improve.”
Siu added that tolerance by China’s Central Government regarding its economic relationship with Macau will be key to the development of the new legislation locally.
The 11th International Conference of Legal Reforms of Macau in the Global Context is organized by the Centre for Law Studies of the Faculty of Law of the University of Macau and sponsored by DSAJ (Direcção dos Serviços de Assuntos de Justiça), the Rui Cunha Foundation and Galaxy Entertainment Group.
RelatedPosts
