Macau’s Legislative Council has approved the first reading of the gambling law amendment bill with just one vote against it.
The amendment bill sets out a gambling concession period of up to 10 years that can be extended for a further three years in exceptional circumstances. There would remain up to six concessions, but the current sub-concession system would end.
The bill proposes that casino operators in Macau be given minimum annual casino gross gambling revenue (GGR) targets, which would be calculated based on the maximum number of gambling tables and gambling machines each gambling concessionaire is permitted to operate. The bill would allow junket operators to each provide services to only one casino operator.
Li Wei Nong, Macau’s Secretary for Economy and Finance, who attended the reading, said the entire process may not be completed before the six existing casino concessions expire on June 26. Authorities will consider extending existing licensees to the extent permitted by current gambling laws.
Eleven legislators raised questions about the draft law, in particular, about the proposed requirements for the link between satellite casino venues and gambling concessionaires, and the potential impact the measure could have on local employment. However, Li Wei Nong said the bill doesn’t want to “kill the gambling industry”.
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