Lionel Leong Vai Tac, Macau’s Secretary for Economy and Finance, announced that a report based on the findings of a special mid-term review of the administrative region’s casino industry is to be published by the end of 2015 or early in 2016.
The official explained that the said report would feature an evaluation of Macau’s six gambling operators and whether they have managed to implement their agreements with the local government in a proper manner. Mr. Leong also told fellow legislators during a plenary government session that the law, under which the annual growth of gaming tables at local casinos should not exceed 3%, would be upheld. The regulation was introduced in 2013 and is set to expire in the end of 2022.
On Thursday, Macau’s Secretary for Economy and Finance, whose office is also responsible for overseeing the city’s gaming industry, presented legislators with his 2016 policy guidelines. He also answered questions posed by fellow lawmakers. During the Q&A session, Macau officials expressed concerns about the future of the city’s gambling industry among other things.
When asked about more details on the upcoming report, Mr. Leong explained that it is primarily focused with the six casino operators in Macau and whether they have managed to fulfill their concession and sub-concession contracts with local government.
Currently, gaming companies Galaxy, SJM, and Wynn are concessionaires, and Melco Crown, MGM, and Las Vegas Sands are sub-concessionaires.
Mr. Leong further noted that Macau Chief Executive Fernando Chui Sai On had formerly said that eight main aspects would be paid attention in the mid-term review. What is more, the city’s top official had said not long ago that the report would also need to cover the supervision of Macau’s junket operations.
Other important topics that the mid-term review would include are the effects of the city’s casino industry on local economy as well as the social responsibilities the six gambling operators would need to take. Mr. Leong said that the report’s findings would be instrumental at times when legislators are drafting and discussing new casino regulations and measures.
The mid-term review is being conducted by the Institute for the Study of Commercial Gaming at the University of Macau. As mentioned above, the report based on the said review is to be published by the end of the year or early in 2016.
