Macau Casinos Could Be Required to Disclose Major Financial Decisions

Macau casinos will be governed by a new set of regulatory conditions next year. One potential governing matter proposed would require the six casino concessionaires to disclose any “major financial decision” to the local enclave government prior to its execution.

A specially designated committee in Macau’s Legislative Assembly is finalizing the rules that will oversee the six casino operators for a 10-year period, which is temporarily slated to begin January 1, 2023. Committee head Chan Chak Mo told reporters this week that the gaming law bill being analyzed includes mandatory disclosures of any substantial monetary decision the six companies make.

The gaming draft defines a “major financial decision” as one that is equal to or higher than the total capital investment that the company has pledged to make in Macau.

The current version of the casino law says licensees face a fine as high as MOP5 million (US$620,400) in the event of failing to disclose such an expenditure. Asian gaming media outlet GGRAsia broke the news of the proposed financial stipulation.

Not About Dividends
Macau casinos are expected to agree to substantial new capital investments in exchange for fresh tenders. That seems to be par for the course in recent years in Asia.

Source: https://www.casino.org/news/macau-casinos-could-be-required-disclose-major-financial-decisions/