promotion of adequate diversification and sustainable development of the Macau SAR's economy. Tis highlights the government's intention to move beyond sole reliance on gaming and encourage the growth of other sectors, contributing to the overall economic stability and prosperity of the region.
Tirdly, the operation of casino games of chance is required to be conducted in a fair and honest manner. Tis underscores the importance of maintaining integrity and transparency within the gaming industry, ensuring a level playing field for all participants.
Furthermore, the amended law places a strong emphasis on preventing criminal influence in the operation of casino games of chance. It aligns the industry with the Macau SAR's policies and mechanisms for combating the illegal flow of cross-border capital, as well as preventing money laundering and terrorism.
Te dimensions and operation of casino games of chance, along with the practice of such games, are subject to legal restrictions. Tis ensures that the industry operates within the boundaries set by the law, promoting responsible gaming practices and protecting the interests of both operators and players. It is in line with the Region's absolute reserve nature of the casino gaming activity.
Additionally, the amended law emphasises the importance of having suitable individuals involved in the supervision, conduction, management, and operation of casino games of chance. Tis ensures that those responsible for the operation of the industry possess the necessary qualifications and integrity to carry out their functions effectively.
Lastly, the interests of the Macau SAR in collecting taxes and other duties resulting from the operation of casinos are duly protected. Tis highlights the government's commitment to ensuring that the region receives its fair share of revenue generated by the gaming industry, contributing to the overall development and welfare of the Macau SAR.
Te public policy statement reflects the government's dedication to creating a secure, transparent, and sustainable gaming industry in Macau, aligning it with the broader objectives of national security, economic diversification, fairness, integrity, and fiscal responsibility.
Structural changes
But Law 7/2022 introduced several other important features to the gaming industry in Macau. Tese features include:
1. Increase in the number of concessions: Te number of concessions for operating casinos increased from three to six. Tis expansion copes with the previous model of six de facto operators, promoting competition and potentially diversifying the offerings available to visitors.
2. Maximum term of concessions: Te maximum term for these concessions is now set at ten
P66 WIRE / PULSE / INSIGHT / REPORTS
The dimensions and operation of casino games of chance, along with the practice of such games, are subject to legal
restrictions. This ensures that the industry operates within the boundaries set by the law, promoting responsible gaming practices and protecting the
interests of both operators and players. It is in line with the Region's absolute reserve
nature of the casino gaming activity.
The new suitability
assessment criteria introduced by Law 7/2022 are a significant addition to the
regulatory framework of the gaming industry in Macau. These criteria are designed to ensure that only entities that meet high standards of
integrity and responsibility are allowed to operate. Failure to
comply with these criteria may lead to the termination of the concession contract.
The operation of casino games of chance is required to be
conducted in a fair and honest manner. This underscores the importance of maintaining integrity and transparency within the gaming industry, ensuring a level playing field for all participants.
Furthermore, the amended law places a strong emphasis on preventing criminal
influence in the operation of casino games of chance.
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