{"id":8275,"date":"2022-01-25T00:00:00","date_gmt":"2022-01-25T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/macau-gambling-concession-period-of-up-to-10-years-that-can-be-extended-for-a-further-three-years-in-exceptional-circumstances\/"},"modified":"2022-01-25T00:00:00","modified_gmt":"2022-01-25T00:00:00","slug":"macau-gambling-concession-period-of-up-to-10-years-that-can-be-extended-for-a-further-three-years-in-exceptional-circumstances","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/macau-gambling-concession-period-of-up-to-10-years-that-can-be-extended-for-a-further-three-years-in-exceptional-circumstances\/","title":{"rendered":"Macau: gambling concession period of up to 10 years that can be extended for a further three years in exceptional circumstances."},"content":{"rendered":"<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Calibri&quot;,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">Macau&rsquo;s Legislative Council has approved the first reading of the gambling law amendment bill with just one vote against it.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Calibri&quot;,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">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.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Calibri&quot;,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">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.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Calibri&quot;,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">Li Wei Nong, Macau&rsquo;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.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p style=\"text-align:justify\"><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Calibri&quot;,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\">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&rsquo;t want to &ldquo;kill the gambling industry&rdquo;.<\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n<p><span style=\"font-size:12pt\"><span style=\"font-family:&quot;Calibri&quot;,sans-serif\"><span style=\"font-size:14.0pt\"><span style=\"background-color:white\"><span style=\"font-family:&quot;Arial&quot;,sans-serif\"><span style=\"color:black\">No Copyright infringement intended. Video\/Photo Unknown Direct for credits\/issue or text us +57 3606412 &#8230;&nbsp;| Respect to Photographers &amp; Influencers<\/span><\/span><\/span><\/span><\/span><\/span><\/p>\n<p style=\"text-align:justify\">&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The bill would allow junket operators to each provide services to only one casino operator.<\/p>\n","protected":false},"author":1,"featured_media":5627,"menu_order":353,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[2828],"class_list":["post-8275","asia","type-asia","status-publish","format-standard","has-post-thumbnail","tag-the-bill-would-allow-junket-operators-to-each-provide-services-to-only-one-casino-operator","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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