Currently, licences for the special administrative region’s three concessionaires, as well as its three subconcessionaires, will expire on 26 June of this year.
However, according to reports first published by Macau news channel Teledifusão de Macau, the Secretary for Economy and Finance, Lee Wai Nong, is currently “studying” whether to extend gambling licences until the end of the year.
The report added that Macau’s six operators have all been told to prepare to apply for an extension.
This, he said, will allow the bidding process for new licences to come under the terms of an amended Gambling Act, as the Legislative Assembly is currently considering a law to change how gambling is governed in Macau.
Under this act, the number of concessions will be increased to six, but subconcessions will be scrapped, meaning the number of operators in the market would remain the same as before.
The licence term will also be shortened from 20 years to 10.
Other rules to be introduced include limits on the number of gaming machines that may be operated, plus new rules designed to curb the influence of junkets.
Original article: https://igamingbusiness.com/reports-macau-to-extend-gaming-licences-until-end-of-2022/
