Macau government to have power to change minimum GGR requirement at any time under revised gaming law

The Macau government would hold the power to change the minimum GGR it requires each concessionaire to reach at any time based on the prevailing economic conditions, it has been revealed.

The Second Standing Committee of the Macau Legislative Assembly continued to discuss the Gaming Law on Monday – the second such meeting since the government submitted its revised text to the committee.

In the original text of the amended Gaming Law, it was stipulated that If the gross revenue of the licensee did not reach a “minimum income” set by the government, a special premium would need to be paid. The Government will set the minimum income per table and slot machine each year.

However, committee Chairman Chan Chak Mo said Monday that the new text submitted by the government had seen “annually” changed to “annually or at a specified time”. It also includes a new clause stating the government will set the minimum income per gambling table and per slot machine in line with the economic environment of Macau and that the government can adjust the minimum income in case of “force majeure”.

“The government can change the threshold of minimum income at any time in response to economic conditions or unforeseen events, and the committee has no strong opinion on this,” Chan said.

The government has also amended Section 5(C) from “the total maximum number of gaming tables and slot machines to be operated would be announced by the Chief Executive” to “the total maximum number of gaming tables and slot machines that may be operated by each concessionaire will be announced by the Chief Executive”. This means the Chief Executive will also announce the number of gaming tables and slot machines that each concessionaire may operate.

Chan revealed other textual content of the Gaming Law, including a stipulation that if a concessionaire no longer operates a casino, it must ensure that the casino entrance and exit, water supply, electricity supply and other equipment remain intact and operational for another concessionaire to use. Failure to comply may result in a fine of between MOP$2 million and MOP$5 million.

The post Macau government to have power to change minimum GGR requirement at any time under revised gaming law appeared first on IAG.

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