Tuesday, August 09, 2022

Govt to ignore gaming equipment reversion clause


The Macau government is set to ignore a clause in the concession contract of SJM and MGM, which requires the companies to hand over casino and gaming equipment to the government in March next year.

According to a report from Gambling Compliance, under the concession contract, each of Macau’s concessionaires is required to ‘automatically revert’ all casinos and casino equipment to the government without compensation. 

This clause was retained after the Macau government extended MGM and SJM’s concessions to June 26, 2022, to match the expiry of the other operators’ concessions.

However, it is understood that the local authorities will not be executing this provision.

A legal source, in comments to Gambling Compliance, said he/she was “mystified” with the government’s decision to ignore the clause, as it goes against the authorities’ interests. 

Asia Gaming Brief is a news and intelligence service providing up to date market information for worldwide executives on relevant gaming issues in Asia.

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