GGRAsia – Macau unions fear for satellite casino jobs in law review
Macau unions fear for satellite casino jobs in law review
Several groups of gambling workers affiliated with the Macau Federation of Trade Unions – the largest local labor organization – said in comments broadcast on Tuesday that they feared for the job prospects of workers at the city’s so-called satellite casinos. , amid proposed changes for this market segment under Macau. Bill amending the Gaming Act.
The concerns were in a letter sent to the Legislative Assembly. The document was distributed Tuesday to local media.
Macau satellites are sites controlled by independent investors, but respectively currently piggyback on the gaming license of one of the existing concessionaires. Satellites will still be allowed under Macau’s proposed new regulatory scheme, but they will each be benefit from a grace period of three years to tie ownership of their gaming premises to one of the city’s six licensees, the city’s Gaming Law Amendment Bill states.
The letter from the task forces is concerned that some satellite site owners could pull out of the market when faced with such a transition requirement, and that jobs in the satellite segment could be lost as a result.
Currently, there are 18 satellite casinos operating in the city, 14 of which are linked to gaming rights from licensee SJM Holdings Ltd. Three others are linked to Galaxy Entertainment Group Ltd. The other is related to Melco Resorts and Entertainment Ltd.
The Macau government has so far given no indication of the possibility of relaxing the conditions proposed for the satellites, in particular with regard to the lifting of the condition of ownership of the casino premises. It has generated a lot of debate so far during the deliberation phase in the Legislative Assembly on the draft bill.
Veteran local lawmaker Chan Chak Mo leads a Legislative Assembly committee responsible for scrutinizing The law project. He reiterated to the local press on Tuesday that the assembly expected to give a final reading of the bill by June this year.
After a meeting with government officials on Tuesday, Mr Chan said Macau’s Economy and Finance Secretary Lei Wai Nong “made it clear that the government has no intention of seeing satellite casinos shut down, which is why they have provided a three-year grace period to fix the issue.”
Mr Chan added: “The government’s hope is that the satellite gaming sites can…continue to operate, under the new regulatory framework.