|Title:||Casino gaming law in Macau||Authors:||Pereira, Alexandre Libório Dias||Keywords:||Gaming law;Macau||Issue Date:||2006||Publisher:||Institute for the Study of Commercial Gaming, University||Citation:||Law, Regulation, and Control Issues of the Asian Gaming Industry, Proceedings of the First Conference of the Asian Academic Network on Commercial Gaming (Institute for the Study of Commercial Gaming, University of Macau, 2006), pp. 141-155||Abstract:||The specific legal framework of casino gaming in Macau is laid down by several special laws. Law 16/2001 provides the general framework for the operation of casino games of fortune. This general framework has been implemented by administrative Regulation 26/2001 (amended by Administrative Regulation 4/2002), concerning the regulation of the public bidding of the gaming concession contracts. Moreover, Administrative Regulation 6/2002 defines the eligibility of the Junket promoter of casino games of fortunes, Law 5/2004 establishes the legal framework of casino gaming credit operations, and Law 8/96/M of July 22 provides for several criminal offences and administrative infractions to gaming activities. Macau casino gaming law follows a restrictive regulatory model, according to the theory of gaming as a ‘privileged business’, but at the same time it seems to be influenced by the transformation of the gaming industry into a ‘tourism enterprise’. Casino gaming is a legal monopoly of the Executive of Macau SAR, and the exploitation of this activity is only available to concessionaires that comply with strict requirements concerning the suitability of actors and financial capacity. In return for gaming concessions, the concessionaires pay significant premiums, taxes and contributions, and are bound to a program of relevant investments in the Region. In the operation of casinos, concessionaires are subject to a high degree of control by the Executive within a relationship ruled by a principle of full disclosure and straight cooperation. In order to assure accomplishment of their obligations to the Region, concessionaires provide significant financial guarantees. Moreover, Casino junket promoters need to be licensed by the Executive of the Region and therefore have to demonstrate adequate suitability. In conducting their activities they are subject to a high level of control not only by the Executive but also by concessionaires with which they work, for concessionaires are jointly liable for the acts of their promoters. Another relevant aspect of casino gaming law in Macau is that it does not deem as game usury casino gaming credit operations that are conducted by the concessionaires, sub-concessionaires as well as authorized managers and promoters. Despite restrictive, this legal framework has introduced competition in the gaming marketplace. Casino gaming is now exploited by three concessionaires and three sub-concessionaires. Monopoly has been replaced by oligopoly, Junket promoters can work with more than one concessionaire, and moreover casino credit operations are allowed under certain circumstances.||Description:||First Asian Academic Network Conference on Commercial Gaming (Osaka Session) jointly organized by the Osaka University of Commerce (Japan) and the University of Macao (PR China), in 2005 July 21 to 25.||URI:||http://hdl.handle.net/10316/12823||Rights:||embargoedAccess|
|Appears in Collections:||FDUC- Artigos em Livros de Actas|
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checked on Jun 19, 2018
checked on Jun 19, 2018
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