The 4 satellite tv for pc casinos operated by former Macau legislator Chan Meng Kam’s Golden Dragon Group are mentioned to be amongst seven satellites planning to shut their doorways this 12 months forward of anticipated amendments to the town’s gaming legislation.
Following a report by Macau Each day late final week claiming seven casinos would stop operations by mid-2022, Chinese language-language media outlet Allin Media named these seven as together with Golden Dragon Group’s On line casino Golden Dragon, On line casino Royal Dragon and On line casino Million Dragon – all working underneath the license of SJM Resorts – and Grand Dragon On line casino which operates underneath the license of Melco Resorts.
The opposite three casinos mentioned to be closing are these operated underneath Galaxy Leisure Group – On line casino Waldo, Rio and President On line casino – whereas Allin claims different satellites are set to comply with within the coming months.
The difficulty of Macau’s satellite tv for pc on line casino business was keenly debated during recent discussions on the first draft of the gaming law by a Standing Committee of Macau’s Legislative Meeting (AL).
The amended gaming legislation features a stipulation that concessionaires should in future “function video games of likelihood in casinos in a location the place it holds possession of the true property,” suggesting they would wish to amass some or all of Macau’s 18 satellites if these properties are to proceed working.
A 3-year grace interval could be launched for current satellite tv for pc preparations ought to the concessionaire underneath whose license they presently function be awarded a brand new concession within the upcoming tender course of, ranging from the primary efficient day of operations underneath the brand new concessions.
This could probably imply early 2023 after the federal government just lately revealed its intention to extend the expiration date of current concessions by six months from 26 June 2022 until 31 December 2022.
Nevertheless, it appears unlikely that the present six concessionaires would purchase many, of any in any respect, of Macau’s satellite tv for pc casinos which lack each the size and grandeur of their very own built-in resorts.