Event: The Macao Government has completed its discussion of the Draft Law Amending Law < 娱 乐 场 幸 运 博 彩 经 营 法 律 制 度 > 16/2001 and will submit it to the Legislative Council for a review. We have covered the key points of the bill, as well as the points asked by the Macao Government Spokesperson.
Reviews
1. The main objective of the legislation is clear, that the operation of amusement park lucky gambling activities must be carried out on the premise of maintaining the safety of the country and the Macao Special Region, and promoting the diversity and sustainable development of Macao's economy.
2. To amend the number and the time limit for the distribution of lucky bets in the entertainment venues, specifying that the number of allotments is up to 6, and expressly prohibit the transfer (the previous amendment of the Gambling Act provided for a maximum of 3 batches, but there is no prohibition on transfer): the period for lots shall not be more than 10 years, which may be extended in exceptional cases Up to 3 years (no more than 20 years were stipulated in the Gambling Act before the amendment, with exceptions, it can be extended by one or several points). The bill also establishes approval standards for entertainment venues, slot machines and gaming tables to regulate the scale of operations of lucky bets. After re-issuing casino cards, the number of casino tables will be allocated according to the size of the Central Standard Company.
3. Strengthen the qualification investigation and control mechanisms for contracting companies, participants in gambling activities and companies, including the scope of clear subjects to be investigated (contracting companies, shareholders holding more than 5% of the shares of the subcontracting company, betting intermediaries and partners), ordering appropriate qualification standards and not appropriate facilities The consequences of qualification will strengthen the government's means of enforcement.
Fourth, raise the capital amount of the contracting company to MOP 50...