With regards to the abolition of junkets, operators have been told that they can no longer “share, in any form or agreement, with the concessionaires, the revenues from the casinos, or the exclusive exploitation of the areas reserved for the casinos by contract, being limited only to the provision of support to the concessionaires in the promotion of gambling activities in casinos, through commissions.”
Macau’s existing operators have welcome the bill.
Dr. Lui Che Woo, Chairman of Galaxy Entertainment, said: “We agree and fully support the goals of the SAR Government’s proposed legislation, which holds that national and Macau SAR security should be put as top priority when operating casinos and gaming-related activities, whereas Macau’s economic diversification and sustainable development should be promoted. We believe that having optimized laws and regulations in place will lay a solid foundation for the city’s steady development and propel the synergetic development of the gaming industry, leading to Macau’s overall economic resilience and diversity.”
Wynn Macau said: “The enhancement of these regulations will significantly strengthen the sustainable development of Macau.”
Melco Resorts & Entertainment added: “Melco is fully confident in the development of the integrated tourism and leisure industry. The company is committed to participating in the public tender of the award of a gaming concession and will continue to promote economic diversification in Macau.”
MGM China, commented: “The bill presented today provides details over various key aspects of the overall administrative procedures and timetable, outlining a clear roadmap on the upcoming important milestone of retendering which is critical to maintain a healthy and sustainable development for the gaming industry in the future. At MGM China, we wish to express our sincere gratitude to the Macau SAR Government for providing us guidance and ample timing in assisting us with our preparation towards the tender submission.”
SJM Resorts a, the operator that stands to lose most in terms of changes to the operation of satellite casinos in partnership with other operators, added: “The Government has taken into account the views collected from the industry and various sectors during the public consultation. The bill has improved the relevant contents of the existing gaming law with details on the proposed amendments and clear guidelines for the benefit of a sustainable and healthy development of Macau’s gaming industry. SJM is getting prepared for the new tendering while awaiting the announcement of more details from the Government.”
A spokesperson at Las Vegas Sands said: “Sands China will fully cooperate with the SAR government to support the passage of the bill, thereby contributing to the healthy and sustainable development of Macao’s gaming industry.”
Source: GMB
