Macau Extends Casino Operator Licenses Until December
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The six casino companies operating in Macau have been given six-month extensions to their licenses. The licenses were due to expire on June 26th, but the new expiration date is December 31st. Melco Resorts, Galaxy Entertainment, SJM Holdings, MGM China, Sands China and Wynn Macao each have to reapply for a license in order to keep operating.
The proposed changes to Macau's gambling laws will be the largest reform of the sector in about two decades. New rules and regulations got the green light from the Legislative Assembly in January. The full legislature will need to approve the changes before they can go into law.
Lawmakers are updating gambling laws in an attempt to have more control over the activities of operators. Chinese police made more than 75,000 arrests relating to cross-border gambling in 2020 and took down more 2,500 illegal online gambling platforms. Macau has been the biggest gambling hub in the world for many years. The COVID-19 pandemic has wreaked havoc on the sector.
