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Macao approves new gaming law as COVID outbreak shuts city - Nikkei Asia

Nikkei Asia LogoNikkei Asia1 mo ago

Macao approves new gaming law as COVID outbreak shuts city - Nikkei Asia

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Under the new law, approved after about two hours of concluding debate and nine months of public discussions and legislative review, selected operators will receive 10-year concessions that can be potentially extended for three years.

The government pushed ahead with the vote on the gaming bill in the Legislative Assembly, barring observers except for media, even as most municipal offices as well as schools, banks and restaurants were shuttered and other items were cleared from lawmakers' agenda.

Another new clause gives Macao's chief executive the power to revoke any gaming concession on national security grounds or for failure to pay taxes on time.


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Article Details

Author / Journalist: PAK YIU

Category: InvestingFinanceAsia

Topics: Gaming Casino Government Operating China Other Macao Operators City Company Hotel

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-21, 04:02:00

News Timezone: GMT +9:00

News Source URL: asia.nikkei.com

Language: English

Reading Time: 6 minutes read

Article Length: 949 words

Coverage Area: Japan

Availability: Desktop Web, Mobile Web

News ID: 2059

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About Nikkei Asia

Nikkei Asia Logo

Main Topics: InvestingFinanceAsia

Official Website: asia.nikkei.com

Update Frequency: 31 posts per day

Year Established: 1876

Headquarters: Japan

News Last Updated: 13h ago

Coverage Areas: Japan

Ownership: Independent Company

Publication Timezone: GMT +9:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #19

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