MACAU 2.0: NEW GAMING LAW AND ITS IMPLICATIONS FOR CASINO MARKET

Abstract

THIS ARTICLE DISCUSSES THE NEW GAMING LAW IN MACAU WITH EMPHASIS ON THE CRITICAL ASPECTS CONCERNING THE GAMING OPERATORS, CONCESSION REGIME, AND OTHER REGULATORY OBLIGATIONS.1 THANKS TO THE GAMING LIBERALIZATION COMMENCED IN 2001,2 MACAU HAS EXPERIENCED TREMENDOUS ECONOMIC GROWTH. THE PAST TWO DECADES HAVE SEEN THE RAPID DEVELOPMENT OF LARGE-SCALE INTEGRATED RESORTS, AND MACAU NOW RANKS AMONG THE WORLD'S MAJOR GAMING JURISDICTIONS.3 POLICY AND REGULATORY CHALLENGES HAVE ALSO EMERGED ALONG WITH THE GROWTH OF THE JUNKET-DRIVEN VIP BUSINESS IN CASINOS.4 WITH THE RECENT AMENDMENT OF LAW NO. 16/2001 AND THE SUBSEQUENT ENACTMENT OF LAW NO. 16/2022, MACAU HAS STRENGTHENED THE LEGAL UNDERPINNINGS OF ITS SYSTEM OF GAMING REGULATION TO OVERSEE VARIOUS GROUPS INVOLVED IN CASINOS AND THEIR INDUSTRY PRACTICES. THE PRESENT STUDY IS AMONG THE FIRST TO REVIEW THE SCOPE AND IMPACT OF THE REVISED GAMING LAW, AND ASSOCIATED MANAGERIAL AND OPERATIONAL IMPLICATIONS FOR MACAU CASINOS. TOPICS COVERED INCLUDE POLICY DIRECTIONS, CONCESSION REQUIREMENTS, INDUSTRY PARTICIPANTS, GAMING TAXES, AND FAIR BUSINESS PRACTICES. THIS STUDY COULD PROVIDE INSIGHTS INTO THE “MACAU 2.0” PROJECT AND HOW CASINOS ARE TO BE OPERATED AND MANAGED OVER THE NEXT DECADE. THIS ARTICLE COULD ALSO PROVIDE PRACTICAL GUIDANCE FOR POLICY MAKERS CHARGED WITH FORMULATING GAMING POLICY AND REGULATION IN OTHER JURISDICTIONS.