Macau SAR aims to avoid giving rival jurisdictions competitive edge through concession renewal process

Lionel Leong Vai Tac macau
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Macau’s secretary for economy and finance, Lionel Leong Vai Tac has stated that the government would be keeping the details of its strategy concerning gaming licence renewals under wraps in the run up to the expiry of the concessions for the six current Macau operators in either 2020 or 2022.

 

Leong stated the government needed to take the increase in competition in the region’s casino industry into consideration.

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“We can’t forget that the gaming sector is predominant [in Macau’s economy], and to guarantee its sustainable development we need to pay close attention to international competition,” Leong said, speaking during a question and answer session at a plenary sitting of Macau’s Legislative Assembly.

He clarified that if the government were to announce the rules covering the renewal of the concessions too early, it would allow other jurisdictions to adjust their gaming policies accordingly, which he suggested could contribute to an increase in competition.

“Before we announce the new rules, we need to think about the appropriate time to do so, in order to guarantee the sustainable development of the [gaming] sector,” Leong added.

A fortnight prior to this, Macau’s chief executive Fernando Chui Sai On stated that mid-2018 would be an appropriate time to provide more details regarding any extension of gaming rights for Macau’s current gaming concessions and sub-concessions.

 


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