Macau may end casino sub-concessions, directly monitor ops
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Macau government wants to end the system of sub-concessions and create a new one. There are also plans for government-appointed delegates to oversee how gaming operators fulfil their concession duties. The consultation period is from Wednesday (September 15) until October 29. The existing six gaming concessions are due to expire in June 2022. Macau's Secretary for Economy and Finance, Lei Wai Nong, wants the public to give their views on the maximum number of gaming concessionaires allowed in the city. He declined to comment on whether the current permits would be extended.
Macau may end casino sub-concessions, directly monitor gaming operations. Government has proposed to appoint delegates to Macau’s gaming concessions. The government has the responsibility to protect the interests and welfare of the public, while the gaming concessionaires are seeking to maximise their own profit. Other suggestions in the document put up for public consultation include a proposal that dividend distribution by the city's casino operators should require prior approval from the government. Minimum share capital requirement for any local casino concessionaire should be increased from MOP200 million to US$25 million.
