{"id":5067,"date":"2022-03-08T14:48:33","date_gmt":"2022-03-08T14:48:33","guid":{"rendered":"https:\/\/www.top10casinowebsites.net\/news\/?p=5067"},"modified":"2022-03-08T14:48:48","modified_gmt":"2022-03-08T14:48:48","slug":"chinese-vice-premier-urges-macau-locals-to-support-new-gaming-bill","status":"publish","type":"post","link":"https:\/\/www.top10casinowebsites.net\/news\/chinese-vice-premier-urges-macau-locals-to-support-new-gaming-bill\/","title":{"rendered":"Chinese Vice Premier Urges Macau Locals To Support New Gaming Bill"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.top10casinowebsites.net\/news\/wp-content\/uploads\/2022\/03\/han-zheng.jpg\" alt=\"Han Zheng\" title=\"Chinese Vice Premier Urges Macau Locals To Support New Gaming Bill\" width=\"300\" class=\"alignleft size-full wp-image-5068\" \/><strong>Summary<\/strong><\/p>\n<ul>\n<li>Chinese VP asks Macau residents to support gaming law amendment<\/li>\n<li>New gaming law requires operators to apply for new gaming license<\/li>\n<li>Casino operators could lose license if they threaten China\u2019s security<\/li>\n<\/ul>\n<p><strong>China\u2019s Vice Premier Han Zheng<\/strong> has called on the residents of Macau to support the city\u2019s gaming law amendment bill. Zheng who oversees Macau\u2019s affairs, made the remarks in a meeting with Macau\u2019s delegates during the annual session of the <em>Chinese People\u2019s Political Consultative Conference<\/em> (CPPCC) held on March 6, 2022, in Beijing.<\/p>\n<h2>Gaming Law to Help Develop Macau\u2019s Local Casino Industry<\/h2>\n<p><strong>Chui Sai Cheong<\/strong>, a CPPCC delegate from Macau and the vice president of the city\u2019s legislative assembly, affirmed Han\u2019s opinion of the gaming law amendment bill being immensely helpful in ensuring the <a href=\"https:\/\/www.top10casinowebsites.net\/news\/macaus-casino-industry-shows-signs-of-a-turn-around-after-chinese-new-year\/\">development of Macau\u2019s local casino industry<\/a>.<\/p>\n<p>Currently, Macau\u2019s legislative assembly is discussing the amendment bill. The bill is yet to be approved before a new public tender for fresh gaming rights is available. Analysts from <strong>JP Morgan Securities<\/strong> had said that the tender process would most likely begin in the third quarter of 2022. The permits for a 10-year license period coinciding with the start of 2023 might be awarded in the fourth quarter.<\/p>\n<p>On March 3, 2022, the government announced the extension of existing gaming licenses for six months, till December 31. According to the provisions in the bill, the new tender will allow for six concessions at a maximum. There will be no sub-concessions.<\/p>\n<p><strong>Lei Wai Nong<\/strong>, Macau\u2019s Secretary for Economy and Finance announced on March 3, that gaming operators must file relevant documentation to extend their respective licenses. At that time, Lei said that the authorities were yet to receive an application for the license extension. A news portal announced that the six operators confirmed that they were preparing the documents required to apply for the extension.<\/p>\n<h2>Macau Legislative Assembly Discusses Security Clause in Gaming Law<\/h2>\n<p>On 4 March, the legislative assembly discussed a clause in the gaming law amendment bill regarding what would be considered as an endangerment to national security. The bill said that the Macau Chief Executive could terminate a concessionaire\u2019s contract for threatening the national, or the city\u2019s security.<\/p>\n<p>The Macao Gaming Committee would analyze the decision before its enactment. The gaming concessionaire would be able to appeal against the decision. Legislator <strong>Chan Chak Mo<\/strong> opined that the process would be administrative, rather than criminal. The bill is due for a final reading in June 2022. Chak Mo also revealed that <em><a href=\"https:\/\/www.top10casinowebsites.net\/news\/galaxy-entertainment-says-galaxy-macau-phase-3-opening-likely-in-early-2023\/\">Galaxy Entertainment Group Ltd<\/a>, Wynn Macau Ltd, and Sands China Ltd<\/em> had submitted their respective queries about the bill to the assembly.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary Chinese VP asks Macau residents to support gaming law amendment New gaming law requires operators to apply for new gaming license Casino operators could lose license if they threaten China\u2019s security China\u2019s Vice Premier Han Zheng has called on the residents of Macau to support the city\u2019s gaming law amendment bill. Zheng who oversees [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,11],"tags":[],"class_list":["post-5067","post","type-post","status-publish","format-standard","hentry","category-industry","category-legislation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Chinese Vice Premier Urges Macau Locals To Support New Gaming Bill<\/title>\n<meta name=\"description\" content=\"China\u2019s Vice Premier Han Zheng has called on the residents of Macau to support the city\u2019s gaming law amendment bill.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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