• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Friday 9 May 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

The Gaming Law must be passed by 26 June and the new concessions by 31 December? Apparently not

Andrew W Scott and Pierce Chan by Andrew W Scott and Pierce Chan
Mon 30 May 2022 at 19:17
Is Macau still investible?
41
SHARES
1k
VIEWS
Print Friendly, PDF & Email

Must the new Gaming Law be passed by 26 June? And must the new concessions be signed by 31 December? Despite that being the prevailing wisdom, the answer to both questions is, “Apparently not.”

As we all know, the gaming contracts of the six concessionaires will expire at midnight at the end of 26 June this year, and the government has stated the six concessions will be extended until 31 December. The President of the Macau Legislative Assembly Macau, Kou Hoi In, mentioned earlier this year that he hoped the new gaming law would be passed before 26 June, and it is widely said that the new gaming law must be passed on 26 June. But why? Is it possible to pass it later?

In fact, 26 June is not a deadline at all. The new gaming law can definitely be passed later.

The current Law No. 16/2001, formally the Legal Framework for the Operations of Casino Games of Fortune but commonly known as the “Macau gaming law” does not have an expiration date. The only thing which expires is the right to operate gaming, which is held by the six concessionaires. All six concessionaires have applied to the government to extend their gaming rights until December 31 and are now waiting for approval.

If the new law is not passed on June 26, the six concessionaires can still continue to operate their gaming business under the prevailing law. There is no need to rush through the law before 26 June.

So why has 26 June been apparently set as a deadline for the passage of the new Gaming Law?

When asked by IAG on Friday, the Chairman of the Second Standing Committee of the Macau Legislative Assembly, Andrew Chan Chak Mo, said it was a matter of “time.”

He pointed out that after the passage of the new Gaming Law, there are many transitional provisions to be dealt with, and the process of open bidding for gambling licenses must be carried out, which he said can only be implemented after the passage of the new Gaming Law – presumably so that bidders can understand the legal requirements under which they would be operating in the future.

Chan Chak Mo said it was a matter of “time” last Friday.

We have more time

According to Article 13 of the current Gaming Law, the Chief Executive may grant one or more extensions of the casino gaming concessions, for a total of no more than five years. This means that the six concessionaires could see their concessions extended until 2023, or even 2024. This is subject to the approval of the Macau Chief Executive.

Under a maximum extension of five years regime, Galaxy, Melco, Wynn Macau and Sands China still have at least four years to run, while MGM and SJM have at least two years.

However, according to the current government proposals, the new Gaming Law will be passed before 26 June, and the six concessionaires will only be renewed until 31 December, so there is only half a year to carry out the upcoming open tender for the new casino gaming concessions, subsequent contractual negotiations and final execution of the concession contracts – obviously a very tight schedule.

There are a few months for bidders around the world to prepare.

The Macau government has enough time to deal with the gaming law and to conduct the open tender. But truth be told the pressure to comply with the 26 June and 31 December dates they have set themselves is merely self-imposed, so that the “new” regime for the gaming industry in Macau will be in place by 1 January next year.

The upcoming gaming tender will influence the livelihoods of more than 600,000 people, but there are a few months for bidders around the world to prepare. Is that enough time? We have some doubts.

RelatedPosts

Macau police hand over 42 money exchange gang members to mainland authorities after mid-week sting

Macau police hand over 42 money exchange gang members to mainland authorities after mid-week sting

Fri 25 Oct 2024 at 05:10
Report claims UAE may grant one casino license to each of its seven emirates

UAE regulator launches website, names first lottery licensee

Mon 29 Jul 2024 at 08:44
Interblock acquires Aruze Gaming America’s ETG assets

Aruze gains gaming licenses in Macau and the Philippines

Wed 19 Jun 2024 at 07:15
Tinian senator puts forward bill to offer online gaming licenses

Tinian senator puts forward bill to offer online gaming licenses

Wed 22 May 2024 at 05:51
Load More
Tags: Gaming Lawgaming licenseMacau Legislative Assembly
Share16Share3
Andrew W Scott and Pierce Chan

Andrew W Scott and Pierce Chan

Born in Australia, Andrew is a gaming industry expert and media publisher, commentator and journalist who moved to Hong Kong in 2005 and then Macau in 2009, when he founded O MEDIA, one of Macau’s largest media companies and parent company of Inside Asian Gaming.

With more than five years’ experience working as a journalist in Macau, Pierce is an experienced media operator with strong skills in news writing and editing. He previously worked with Exmoo, first as a reporter covering government, gaming and tourism-related stories, then as a Deputy Assignment Editor helping set the agenda of the day. Pierce is a graduate of the University of Macau.

Current Issue

Editorial – Knife’s edge

Editorial – Knife’s edge

by Andrew W Scott and Ben Blaschke
Tue 29 Apr 2025 at 15:14

Thailand’s Entertainment Complex journey is at a critical point, with the success or failure of the initiative to be determined...

The changing face of Macau

The changing face of Macau

by Ben Blaschke
Tue 29 Apr 2025 at 15:09

Inside Asian Gaming takes a deep dive into the new, post-COVID Macau where a revenue environment that seems to be...

Born again

Born again

by Pierce Chan
Tue 29 Apr 2025 at 14:47

Premiering in September 2010 at City of Dreams, The House of Dancing Water was a visionary creation by artistic maestro...

Richard Howarth – Testing the limits

Richard Howarth – Testing the limits

by Ben Blaschke
Tue 29 Apr 2025 at 13:17

Richard Howarth, Chief Business Officer APAC for global testing laboratory GLI, discusses his career journey and his passion for fast-paced...

Evolution Asia
Aristocrat
GLI
Mindslot
Solaire
Hann
Tecnet
Nustar
Jumbo

Related Posts

Japan Credit Rating Agency affirms Konami’s A+ rating due to “high earning capacity”

Stability in Australia, North America drives 7.4% revenue growth for Konami’s gaming segment in FY25

by Newsdesk
Fri 9 May 2025 at 06:48

Global gaming supplier Konami reported a 7.4% increase in revenue in its Gaming & Systems segment to JPY42.7 billion in the year ended 31 March 2025, with operating profit up by 16.3% to JPY7.3 billion, according to financial statements published...

MGM’s Hornbuckle bullish on “unique” Macau as China stimulus uncertainty sees gaming stocks dive

MGM’s Bill Hornbuckle extends employment contract through end-2028

by Ben Blaschke
Fri 9 May 2025 at 06:34

MGM Resorts CEO and President Bill Hornbuckle has renewed his employment contract with the company through to the end of 2028, after which time he will assume an advisory role to assist with the pre-opening phase of its US$9 billion...

Winds of change

Melco says working with potential buyers on bidding process for City of Dreams Manila

by Ben Blaschke
Fri 9 May 2025 at 06:16

Melco Resorts & Entertainment said Thursday that it is currently in discussions with potential buyers of its stake in Philippines integrated resort City of Dreams Manila and will soon have a shortlist of interested parties that will partake in a...

Melco prices US$750 million Senior Notes offering

Melco smashes revenue and profit estimates in 1Q25, gains market share on powerful performance of Macau resorts

by Ben Blaschke
Fri 9 May 2025 at 05:36

An impressively strong performance in Macau was enough to see Melco Resorts & Entertainment comfortably beat consensus in 1Q25, with the company reporting a 10.8% year-on-year increase in total operating revenues to US$1.23 billion including a 12.2% rise in gaming...



IAG

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2024
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English