search.noResults

search.searching

saml.title
dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
MACAU BUSINESS


gaming, and reinforcement of guarantees for workers. However, a number of questions linger and some


“…start by stating if the current casino gaming operators are to continue, the Macau government shall clarify in particular, the restrictions on the distribution of profits, the intention to have more Macau permanent residents as shareholders, and the role of the government delegate”


the next six months”, resulting that they advice investors to “stay cautious on the sector”. On the other hand, gaming consultant and managing


partner of IGamix Ben Lee notes that “the lack of official reaction to the stock market turmoil resulting from the release of the draft proposals should alert anyone that it is no longer business as usual”.


Concessions: how many and for how long?


What will the ‘new normal’ look like for Macau’s casino industry?


Some of the key ideas included in the consultation document: tighter regulation, increased supervision, narrower room for junkets, stronger focus on non-


20 NOVEMBER 2021


observers and industry insiders regard the process as vague and mired in uncertainties. That was partially expressed during the first public consultation on the gaming law revision held on September 20. Nevertheless, representatives of gaming operators tended to prefer to leave more specific questions and suggestions to the documents they plan to submit before October 29, when the consultation period ends. In the eyes of António Lobo Vilela, former adviser to the Secretary for Economy and Finance on gaming related matters and author of the Macau Gaming Law book, clarity is needed on “pretty much all the document’s nine key points”. The Government could “start by stating if the current casino gaming operators are to continue, the Macau government shall clarify in particular, the restrictions on the distribution of profits, the intention to have more Macau permanent residents as shareholders, and the role of the government delegate”, added Mr Lobo Vilela who was in the early 2000s a senior legal advisor, both to the Commission of the first public tender to grant casino concessions and of the think-tank in charge of (co) drafting the gaming law. A first obvious doubt regards how many will stay in the game and how many concessions will be awarded. One matter is tackled head on by the consultation


paper: the current sub-concession status will be removed, in line with what many analysts were expecting. However, no indication was provided on the possible number of allowed concessions or if the sub-concessions will be converted into full-fledged concessions. Back in 2002, the Government awarded the three concessions being tendered to Galaxy Casino S.A., Wynn Resorts (Macau) S.A., and Sociedade de Jogos de Macau S.A. Venetian (Sands) was initially a partner of Galaxy but their agreement collapsed and authorities decided to allow Sheldon Aldelon’s company to operate as a sub-


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60