Inside Asian Gaming

DECEMBER 2018 INSIDE ASIAN GAMING 85 Instead, Pessanha offered a mixed vision regarding the possibility of online gaming extending the capabilities of local operators under a new legal framework. While the coming years may also present the perfect moment to introduce online gaming into law, he added that “in terms of taxes it might not be very interesting”, as other regional jurisdictions such as the Philippines already have a well-developed online betting industry and enjoy a lighter fiscal policy. More intriguing for Macau is the role of junket operators under the new legal environment. According to Ricardo Siu, Associate professor of the Business Management Faculty of the University of Macau, “cultivating the non-VIP gaming sector (mass market) should be the emphasis in moving forward for the industry, but the positive role of gaming agents on the practices of the gaming concessions in Macau should not be neglected.” FEATURES Asked whether legislation would need to be changed so that junkets would have to apply for licenses, Chagas said “the law is very clear and we would need to make some adjustments to it” to introduce such provisions. In general however, the 11th International Conference on the Legal Reforms of Macau in the Global Context highlighted the success story of the SAR’s gaming industry, with any looming changes to gaming law set to be relatively minor and focused solely on a handful of key issues, namely the concession and sub- concession situation. In themeantime, gaming is inextricably woven into the economic and social fabric of the city and there should be no expectation of any drastic dismantling of an industry that, according to the International Monetary Fund, is set to make Macau the richest place on earth by 2020.