Kwok ChiChung, Chairman of the Macau Games and Entertainment Promoters Association, said in a comment to Exmoo News that he received information that 6-8 satellite casinos are scheduled to be closed by the end of June.

These already include the Grand Emperor Hotel casino under SJM’s game license. It has already announced that it will be shut down by June 26, when all game concessions expire.

Currently, there are 18 operational satellite casinos out of a total of 40 casinos in the region, 14 of these third-party advertised casinos operating under license from game operator SJM Holdings Ltd, and others. Four are linked to the Galaxy Entertainment Group (GEG). And Melco Resorts and Entertainment Co., Ltd.

Six local game concessions will expire their game licenses by December 31, this year, but some satellites will shut down early to “reduce losses,” according to Quoc. I believed that I would decide.

The Chinese newspaper Macao Daily News said on March 24 that seven satellite casinos will be closed by mid-year due to the rigor of visa applications to Macau, lack of cash flow and the negative effects of repeated pandemics. I reported. Four of the casinos scheduled to be closed are said to be linked to Chan Meng Kam’s Golden Dragon Group.

The Million Dragon Hotel was also reported to have already sent a layoff letter to some employees suspected of being layoffs or marketing staff.

A new version of the General Gaming Act presented by the Government of Macau SAR allows satellite casinos to continue operating even if the assets in which the satellite casinos are located are not fully owned by the game concessionaire. This is a shift from the previous stance that these casinos could be closed. If the situation is not resolved within the transition period of 3 years after the enforcement of the new law.

Earlier draft wording has led several industry players to warn that multiple satellite casinos in the city will be closed and local unemployment may rise.

Still, under the new regulations, these management entities can only charge management fees and cannot share game revenue percentages or fees. The changes warned by members of the sector will further worsen the outlook for future business.

Last week, NAPE’s Rio Hotel was reported to have been put up for sale with a casino for 2 billion MOP (US $ 247.5 million) by a local consultancy.

With the proposed changes, SJM will convert Oceanus assets from HK $ 1.9 billion (US $ 242 million) from its majority controlling shareholder, STDM, to increase its likelihood of receiving new game concessions. Announced to buy.

When asked about this yesterday, Ho Iat-seng said that most of the city’s “satellite casinos” would operate, except for the termination of contracts with related games, according to the latest information available. A concessionaire or subcontractor who said he should be able to continue.

Ho said he believes that only a few “satellite casinos” will eventually shut down without significantly impacting local jobs.

By the end of 2021, the number of non-residents employed by all six game operators in Macau SAR by the end of 2021 was 32% compared to the 23,676 non-residents employed before the pandemic, according to the Labor Department (DSAL). It has decreased. ..

Workers employed by satellite casinos, but directly employed by the game concessionaire, can be rehired, relocated to another hotel, or relocated to another position.

CE stated that such companies have a contractual relationship only with the city’s game concessionaire or subconcessionaire and do not have legal status under current gaming law.

Therefore, he labeled existing legislative amendments with the aim of providing a clear framework for the industry as a whole, rather than changing the overall path for the development of the industry.

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