The Macau gaming industry has started to undergo transformation!

Yamini003

According to the Macau Daily, the Macau Special Administrative Region (SAR) government stated in its rationale that the main purpose of amending the laws and regulations on the operation of casino games and lucky gambling is to clarify the legal framework for gambling operations. This is especially crucial in maintaining national and Macau security, promoting moderate diversification and sustainable development of the Macau economy, and aligning with Macau's efforts to combat cross-border illegal fund flows, preventing policies to counter money laundering.

The amendment aims to define the scope of entertainment venues, regulate the approval of entertainment venues, gambling machines, and gambling tables. New provisions include the total upper limit for the first batch of gaming tables and gambling machines, as well as the annual gross income threshold for each gambling table and machine. It allows approved companies to fully utilize the approved gambling tables and machines. Restrictions are placed on gambling intermediaries, allowing them to provide services only to approved companies and specifying that they can only charge commissions/fees.

The bill also proposes to strengthen the qualification examinations and supervision mechanisms for approved companies, individuals participating in gambling activities, and companies, including specifying the scope of qualification examination subjects, considering the criteria for appropriate qualification examinations, and the consequences of not having the proper qualifications. The capital amount for companies to undergo approval is raised to MOP 5 billion, and it is stipulated that these companies must notify the Macau government before making significant financial decisions. The proportion of Macau permanent residents serving as executive directors is increased to 15%, and limits are imposed on the proportion of publicly traded shares held by contracting companies or their controlling shareholders, establishing a more stable connection between contracting companies and Macau. Obligations for approved companies in operating lucky gambling are clarified, along with regulatory measures for gambling intermediary businesses. A clear penalty system is established.

The era of Macau's old-style gambling industry has come to an end, and the city, which traditionally heavily relied on the gaming sector, is undergoing transformation!

Ritu13

As the saying goes, change brings opportunity, and opportunity leads to wealth. This transformation is quite normal.

Iti9

For gamblers, it's not good news.

Shri

Not changing means death, changing leads to victory; survival of the fittest requires evolution and adaptation to the environment.

Kahn332

Change is still good.