The Number of Macau Gambling Licenses to Be Reduced
A number of reforms have been proposed in Macau, with the government looking to crack down on the number of operators within the Macau casino market.
The reforms are focused on Law number 16/2001 and the licenses which are issued to gambling operators.
The current set of licenses expire in June next year, and it has been stated by the government that they would like to reduce the number of licensees.
A representative of the government said, “Restricting the number of concessions does not mean reducing the competitiveness of the sector in the market, but, on the contrary, aims to ensure a balance between the stability of the market size and the liberalization of the sector. As a representative of the public interest of society, the Macao SAR Government has a responsibility to protect the interests and well-being of the entire local population, the game concessionaires, in turn, have as their main objective the maximization of their own profits. ”
It has also been recommended that the length of any concessions should be reduced as the state of the economy has changed dramatically since the original law was made and that shorter terms would now be more appropriate.
The Macau government are also hoping to implement employment guarantees into the issued licenses, which will act as a safety net for local workers as well as new rules for any company or individuals who promote gambling as there are few legal requirements which apply to this part of the industry.
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