Macau Business Daily – Macau’s Secretary for Economy and Finance Francis Tam Pak Yuen says there “should be no increase” in the number of gaming concessionaires – six at present – allowed in the city’s gaming market following the expiry of the current permits in 2020 and 2022.
He was speaking during his trip to Beijing. “The government has not determined whether [the gaming concessions] should be renewed for five years. The government has no stance on this matter,” added Mr Tam.
“But it is impossible for the government to have no stance on all issues [regarding the renewal of gaming concessions],” he said on the sidelines of the Chinese People’s Political Consultative Conference. “For example, there should be no increase to the number of gaming operators, which is six now.”
Mr Tam’s statement on the length of “renewed” concessions has surprised some commentators on Macau law. It also potentially highlights confusion around the use of the term ‘renewal’ and how that applies to Macau law.
One person told Business Daily: “What is amazing is how everyone writes about it as if there were no legal precepts ruling the subject of Macau gaming concessions. Of course the relevant Macau law can always be changed or amended. But, until then, it is important to mention the existing precepts.”
The person added: “The relevant statute is Law 16/2001. It was not made for a one-off tendering process. It was established as a principle.”
