Inside Asian Gaming

IAG JUL 2022年7月 亞博匯 100 representing a 13-fold increase. Likewise, gross domestic product (GDP) of MOP$59.2 billion (US$7.4 billion) in 2002 has climbed over seven times to MOP$434.7 billion (US$54.3 billion) in 2019. Thus, if the calculation of the minimum capital requirement for concessionaires is based on economic growth, the reasonable amount should range between MOP$1.5 billion (US$188 million) and MOP$2.6 billion (US$325 million). But the amount of MOP$5 billion is still within the affordable range for the current six gaming operators in Macau, even if some may need an injection of fresh capital into their Macau- registered concession-holding legal entities to comply. In a June note outlining the standing of the concessionaires in this regard, Credit Suisse analysts identified Sands China as the only one which did not at that time meet the MOP$5 billion (US$625 million) minimum capital requirement under the new Macau gaming law, although this “can be easily resolved [by a] capital injection from the listed [company] to the license-holding subsidiary. “According to the disclosures reported to the regulator DICJ, Sands China’s concessionaire remains the only entity with equity falling below the threshold,” they explained, noting that the company’s net assets of MOP$1.7 billion (US$213 million) would require a capital injection of MOP$3.3 billion (US$413 million) – presumably from the parent listed company – to meet the new minimum capital requirement. Nonetheless, while all six existing operators are capable of doing so, this new MOP$5 billion threshold could deter some overseas investors from bidding for a Macau license. Speaking with Inside Asian FEATURES 門本地生產總值（GDP）為592.2億澳 門元，2019年澳門GDP為4,347億澳門 元，升幅為7.3倍。 以經濟增長角度來計算承批公司的 註冊資本，合理金額應在15億澳門元至 26億澳門元左右。 但對於現有的6間博企來說，50億 澳門元絕對是可以應付的範圍內。即使 部份承批公司需要注入新資金來應付。 在6月，一份提及承批公司在這 方面問題的文件中，分析師就指出 金沙中國是當時唯一不符合澳門新 《博彩法》規定的50億澳門元（6.25億 美元）最低資本要求的公司，儘管金沙 「可以通過從上市公司向持牌的子公司 注資而輕鬆解決。」 但他們解釋道：「根據交給博監局 報告中披露，金沙中國仍然是唯一個股 權低於門檻的實體。」金沙的淨資產為 17億澳門元（2.13億美元），需要注入