Inside Asian Gaming

IAG FEB 2022年2月 亞博匯 24 COVER STORY Some of the proposed amendments had long been anticipated, such as discussions around the number of concessions and the elimination of the current sub-concession scheme, certain protections for employees of gaming companies, the promotion of non-gaming amenities and a focus on Corporate Social Responsibility (CSR) initiatives. But there were some proposals that, while light on detail, were enough to send shockwaves through a nervous investment community to the extent that the Hong Kong- listed entities of Macau’s six concessionaires lost 26%, some US$18.4 billion, of their market value on the trading day following release of the consultation document. Aseriesof publicconsultation sessions held in the 45 days following the document’s publication alleviated some of those investor concerns, but it wasn’t until the government’s 14 January press conference and subsequent publication of the draft bill that any real detail was provided around some of the more concerning proposals. Perhaps the biggest surprise to emerge from the draft bill was the scrapping of a proposal to have a government representative or delegate attached to each concessionaire. Under this proposal, the government representative would have specifically been charged with supervising the concessionaires’ compliance with its legal and contractual obligations and to protect public