Legislators in Macau want to scrutinize casino operators

Macau

A Special Administrative Region (SAR) under China’s control requires its six casino operators to issue new gambling licenses. How the new licenses are issued will have a big impact on the future of Las Vegas Sands, Wynn Resorts, and others in Asia.

Macau is updating its gaming laws, and lawmakers want to take a closer look at the operators’ recent activities. They also request records in detail on the operators from Macau’s Gaming Inspection and Coordination Bureau (DICJ). It will help influence the new gaming laws.

Macau undergoing a transformation

China gained control over the city from Portugal in 1999. Since then, this could be one of the most difficult times for Macau. Casino licenses will expire under current gaming laws, without renewing. Operators can only issue new licenses. This could result in an existing operator losing their concession as early as next year.

Macau’s gaming regulators and government officials are rewriting the city’s gaming laws ahead of the license-issuing process. As everyone prepares for the transition, lawmakers are proposing that the operators’ records should be public. It is so that everyone can see how they’ve complied with gaming laws over the last two decades.

If the new gaming laws come out by September, followed by a public consultation period, the operators will have little time to respond and adjust ahead of the expiration of their concessions in June of next year.

The vice-chairman of SJM Holdings has reiterated that Macau needs to issue a one-year extension to the existing concessions to give everyone more time, but Macau leaders have yet to respond.

 

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Nassima Azmzm

Nassima Azmzm

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