The expiry of the casino licences had been a major concern for investors, company executives and analysts as the government had provided little information until now. Currently the regulatory body is not permitting the authorization of online gambling licences to any foreign gambling providers so they may offer remote services from Macau. All quotes delayed a minimum of 15 minutes. This former Portuguese colony has been referred to as the “Monte Carlo of the Orient” or the “Las Vegas of the East”. After Galaxy and Sands failed to reach an operational agreement, they split up with the government awarding Sands a subconcession licence. Liberals lash out at working people province-wide, 'I'm sick of influencers asking for free cake', Cleanfarms' Programs Demonstrate Waste Reduction Week Circular Economy Goals, Emboldened by risks at Ministry of Design, Liam Neeson Thriller 'Honest Thief' Leads Cratering U.S. Many of these local casino operators have been publicly jockeying for a licence, with analysts and executives speculating that the government may permit additional licences to the existing six operators. The process remains controversial because little is publicly known about how the winners were chosen. The Macau government said the MGM and SJM's licences, set to expire in 2020, would be extended for another two years with both operators required to pay a one-off fee of 200 million patacas ($25 million). “We believe the extensions have more to do with making the ultimate task of the licence rebid situation easier, while at the same time making sure the labour market remains stable,” he said. The government in Macau, the biggest gambling destination in the world, has extended the licenses of two casino operators Macau remains. HONG KONG (Reuters) - Macau, the world’s largest gambling hub, has extended casino licences for MGM China and SJM Holdings until 2022, bringing them on par with other operators, authorities in the Chinese territory said on Friday. The two likely contenders are Ho Iat Seng, president of Macau’s Legislative Assembly, and Lionel Leong, the secretary for economy and finance, which oversees the gaming industry.
Macau, the world's largest gambling hub, has extended casino licences for MGM China and SJM Holdings until 2022, bringing them on par with … At that time, the casino industry was treated the same as a public utility service. Online sports betting players wishing to bet or gamble online must be 18 or older and fulfill the criteria in accordance to the law on online gambling in their own country or the place where they currently are. In 2011 the government acknowledged Macau has no online gambling laws, therefore it is not illegal to use outside websites from your Macau residence or hotel room to play online poker, casino games or to bet on sports or races. Policy and regulatory changes are in focus with the election this year of a new leader in the special administrative region, who will work with mainland authorities for the next five years. Our Standards: The Thomson Reuters Trust Principles. Currently no foreign providers have been allocated online gaming licences. Macau’s shrinking gaming revenue appears to be the biggest risk for its casino licensees’ $20 billion investments in new resorts.
Will the concession system go down in history?