Melinda Chan to strive for a concession
On the sidelines of a business event, Macau Fisherman’s Wharf executive Melinda Chan said that the company would do its best to bid for a gambling concession.
Chan is the executive director of Macau Legend Development Limited and CEO of the Macau Fisherman’s Wharf.
As the bill on the review of the gambling law reaches parliament, discussion of the details has been prompted. Chan expressed her trust that the bidding process would be fair, and that her company would definitely participate “if the government allows local enterprises to compete.”
Meanwhile, the proposal to ban all satellite casinos has raised public concerns. Satellite casinos are located in hotels or resorts and not owned by the gaming concessionaires.
Chan pointed out that the ban will impact the livelihoods of many, hinting that these casinos will shut down if the proposal passes parliament.
However, she expressed her trust in the government “caring about the lives of local residents,” citing history to support the presence of satellite casinos. According to Chan, such casinos existed even before the market became an oligopoly.
A former lawmaker, Chan called for incumbent lawmakers to be mindful of the impact of the proposal on local residents. “They are elected by local residents,” she said, referring to their responsibility to protect the interests of those who elected them.
She also pointed out that closing satellite casinos may cause collateral damage to shops nearby.
On January 14, Macau authorities revealed the amendments to the Macau SAR’s Gaming Law No. 16/2001 that stipulate a maximum of six concessions and a concession duration capped at 10 years with three years for exceptional extensions.
The amendment ruled that no sub concessions will be allowed.
These revelations from the government imply that all six gaming operators would be able to keep their license, alleviating concerns among executives about reports and forecasts that the renewals would only be given to casinos that are “Chinese.”
“The longer grant period in the past took into account the time required for the construction of casinos and complexes by the companies that had been awarded gambling licenses in those years,” explained the Executive Council spokesperson, André Cheong.
