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Gov’t could review gaming concession legislation: Secretary Leong

The government could completely redo the legislation relating to the new gaming concessions, according to statements made by the Secretary of Economy and Finance, Lionel Leong Vai Tac. Given the increased competition regionally – one of the major developments since the original gaming concessions were granted – the government will ‘study the viability, including evaluating […]

The government could completely redo the legislation relating to the new gaming concessions, according to statements made by the Secretary of Economy and Finance, Lionel Leong Vai Tac.
Given the increased competition regionally – one of the major developments since the original gaming concessions were granted – the government will ‘study the viability, including evaluating the necessity of reviewing the legislation, among other options,’ states a government press release.
The Secretary pointed out that the government will be particularly attentive to the gross gaming revenues registered during the ‘high months’ of July and August this year, and conduct an evaluation on a ‘macroscopic and economic environment’ scale. In addition, the government will ‘proceed with an economic analysis of the first semester of this year, with the objective of understanding the most recent economic structure of the city’.
While not clarifying whether the two gaming concessions set to come up in 2020 – those of MGM China and Sociedade de Jogos de Macau – would be extended for a further two years to match the expiration of the other four concessions/sub-concessions, the Secretary reiterated the termination dates.

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