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Bidders for gaming concessions face stricter regulations

Would-be concessionaires must set out how they would attract foreign customers, the benefits they’ll bring to Macao and their stance on social responsibility.

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Would-be concessionaires must set out how they would attract foreign customers, the benefits they’ll bring to Macao and their stance on social responsibility.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 4:43 am

All bidders taking part in Macao’s gaming tendering process will have to set out how they plan to expand their foreign customer markets, the benefits they will bring to the city in terms of gaming and non-gaming investments and the social responsibilities they will assume.

Additionally, bidders will have to verify their suitability and financial capacity, although this can be done online.

The new regulation complements the gaming law passed by the Legislative Assembly last month that reshaped the city’s gaming industry, given that the policy direction for the future development of the sector is quite different to that of the 2001 public tender for the city’s gaming concessionaires.

As casino management companies will be regulated by the government’s junket bill regulating the city’s gaming promoters, which is currently being reviewed by the legislature, the articles related to management companies will be revoked in the administrative regulation dated back to 2001.

Under the junket bill, the future gaming concessionaires would not be allowed to share their revenues with, or pay commissions to, the casino management companies, but are only permitted to pay them a management fee for their services.

Macao’s government-granted casino operations are concessions – not “simple” business licences – that give the government considerable clout in how the gaming operators are running their businesses.

According to the amended gaming law, the government can grant up to six gaming concessions, while sub-concession will no longer be permitted, The Macau Post Daily reported. 

 

UPDATED: 22 Dec 2023, 4:43 am

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