Gaming operators to pay special premium taking into account estimated annual gross gaming revenue
$5,000 Welcome Bonus
An annual minimum gross revenue limit will be set via Chief Executive dispatch for each gaming table and slot machine held by gaming concessionaires, with the new operators having to pay a special premium if they do not reach that amount, the gaming law proposal draft indicates.
The predicted amount of gross gaming revenue will be calculated in accordance with the maximum number of gaming tables and slot machines authorised for the concessionaire, also a new requirement added in the draft.
The draft bill “Amendment to Law No. 16/2001” was submitted to the Legislative Assembly today and sheds some more light on the details of how authorities plan to regulate the main industry of the SAR.
A formal cap on the number of casino tables and gaming machines in the local gaming market will be established, with the details to be published also via a CE dispatch published in the city’s official gazette.
Under article 20 concerning future premiums to be paid by concessionaires, the bill spells out that concessionaires will be subject to an annual premium to be defined in the respective concession contract and which will vary according to the number of authorised casinos, gaming tables and slot machines held by the operator, and even the type of games explored and casino locations.
If the operator is unable to reach the predicted gross revenue amount established in its contract, it will have to pay the difference to authorities.
Gaming operators will also have to develop an annual responsible gaming promotion plan to be proposed by the DICJ the year before its enforcement.
The plan would include informing gamblers on gambling addiction risks and measures to avoid the entry of minors in casinos and other individuals barred from entering gambling areas.
The bill revealed today also proposed for gaming concessionaires to be subject to an assessment by the Gaming Inspection and Coordination Bureau (DICJ) every three years, while gaming promoters will only be allowed to operate with one gaming concessionaire.
As announced on Friday by the Spokesperson of the Executive Council, the bill sets six as the maximum number of concessions to be awarded to operate for up to 10 years, with a 3-year extension possible under exceptional circumstances.
