This story was published more than 1 year ago.
This week Macau gambling academic Wang Changbin voiced his opposition to the current 20 year license that's being handed out to gambling operators in the country, saying that licenses should be shortened to a maximum of 10 years.
Macau is the world's largest gambling market, but has been hampered by Covid-19 as casinos were shut for a period earlier this year. The jurisdiction has some rules ready to expire at the end of this year, with others set to expire in 2022. This would afford regulators the chance to change some of the rules for operating in Macau, and Changbin feels that now is the time to introduce the changes.
In an article he wrote, "The Casino Gaming Concession System in Macao: Past, Present And Future" he wrote, "Nowadays, gaming is changing rapidly in Asia, and Macao is facing more and more competition from its neighboring countries. But with the current limitation of the concession system, the Macao government cannot respond to the changes quickly. To solve the problem, the Macao government may consider shortening the concession period to make timely decisions. For example, a ten-year concession with every five years' review and license renewal could be considered. A ten-year concession should generally be long enough for an operator to develop a large-scale project while a review and renewal every five years extends the government flexibility to make some changes if necessary."
Macao casino operators will likely exert pressure on any concessions that they deem to be unfriendly to their bottom line. A 20 year license saves them from having to front costs for shorter term applications, and they'll put up a heavy resistance to make sure the boat isn't rocked too heavily.
We always keep our eyes on the Macao market and will let readers know of any proposed changes in the years to come.