The Legislative Assembly (AL) today approved a final amendment to the city’s gaming law, which will have a significant impact on the SAR’s gaming sector.
Despite the outbreak of the current community, local governments maintained a previously scheduled plenary session at 3:00 pm to discuss and vote on amendments, and the law was approved in about two hours. ..
The new law replaces the law that has been in force since 2001 and will significantly enhance the oversight of SAR authorities in the city’s gaming sector.
Some of the major changes from the regulation include limiting the number of new licenses to 6 and halving the license period to 10 years.
The new law also requires businesses to pay a direct game tax of 35% and a flat rate of 5 for Macau’s social welfare and urban development. This is 1% more than before.
If operators can attract more foreign players to the casino, this indirect tax can be reduced by 5%.
For some of the major changes, the casino must be located on Concessionaire-owned premises, but after a three-year transition period, casinos at facilities not owned by Concessionaire will charge a site service management fee. It can be operated by a management entity that can only receive.Not part of the game’s revenue
License holders must also have at least 5 billion MOP of registered capital over the entire term of the license. A person who holds 5% or more in a concessionaire and operator may not hold capital directly or indirectly in another concessionaire.
When setting the number of tables and slots allowed, CE considers licensee operations, investments in non-gaming factors, and the entire Macau economy.
Game concessions may be revoked for reasons that threaten national security or fail to meet the concessor’s obligations, such as paying taxes on time, and the owner governments the game area / capacity without compensation. Must be returned to.
According to the bill, casino operators need to make plans to promote responsible gambling, but each licensee has a maximum number of game tables and machines that can be operated.
If approved, casino operators will no longer have their own junket room and will be banned from bilateral revenue sharing arrangements, but approved VIP promoters will be restricted to operating in only one concessionaire. ..
Some of the changes introduced in the first bill were evaluated by AL’s Second Standing Committee, but most notably, staellite Casino continues to operate under the new managed entity agreement and is indirect. Is to be able to raise taxes.
Individual gaming methods for business relationships between game concessionaires, junket operators, subagents, and satellite casino management entities are also currently being evaluated by the Second Standing Committee.