Macao’s current gaming concessions could be extended beyond their June 2022 expiry date if work to revise the current law and prepare future public tenders is not completed on time, according to Chief Executive Ho Iat Seng.
At present, the maximum period for gaming concessions is 20 years, although authorities may extend them by up to five years. All six concessions and sub-concessions are set to run out next June.
“After the [revision of gaming] law is completed, we will gradually implement the relevant works. Please don’t worry. If the works could not be completed on time like the tender process, we could extend [the licenses], a condition that has already been stipulated in the current framework of [gaming] law [..] we have the mechanism [of extending the existing licenses],” Ho said following his annual policy address to the Legislative Assembly (AL).
“We will try our best to do our work but we will carry out the tasks step by step to be in tandem with the healthy development of the gaming industry. The six gaming operators are very clear about this – the healthy development [of the sector] – and the government will not get them in trouble”.
Authorities have 180 days to provide a final report on last month’s public consultation. A draft bill must then be submitted to the AL for evaluation.
“The content of the public consultation is currently being summarised. […] the law will reveal issues related to the gaming industry, with the nine major directions for the sector clearly defined in the law,” Ho added.
