FINANCE CHIEF: REOPENING OF CLOSED SATELLITE CASINOS UNLIKELY

Closed satellite casinos will not be permitted to reopen, despite the government’s recent U-turn in a legislative amendment, Secretary for Economy and Finance, Lei Wai Nong, said yesterday.

In yesterday’s parliamentary question session, the senior official was questioned by lawmakers on various aspects of the closure of the satellite casinos, such as the employment market and economic impact following the closures.

For example, lawmaker Ella Lei questioned how the government would manage the impact of the in-depth adjustment of the casino market.

Satellite casino is a colloquial reference to the non-legal practice of casinos operating on premises not owned by gambling concessionaires. An example is the casino building in Macau Fisherman’s Wharf. The ownership of the building is registered with businessman David Chow’s operation but is operated by SJM Resorts, S.A.

When the government submitted to the parliament the draft of the amendment to the gaming law over a month ago, the local community was unsettled by the government’s proposal that all casinos must be operated in properties owned by gambling concessionaires.

The international market, meanwhile, was also monitoring future options.

Despite a three-year buffer period being proposed, the government’s proposal led to heated debates, considering the existence of approximately two dozen such establishments across the city.

Source: https://macaudailytimes.com.mo/finance-chief-reopening-of-closed-satellite-casinos-unlikely.html