1824x1026 | 640x360 | 120x68 | 75x75

totositesafe111   Image Posted Sep.21st, 2023, viewed 78 times

Macao Slot Company Limited has extended its license by three years

Macau Slot Company Limited has renewed its long-held license that gives it the right to run local instant lottery and sports betting for another three years.

The 36-month extension, on the contrary, is set to expire in June 2024, although it has been deprived of its previously held monopoly, which means it is the only player to offer instant lottery tickets to Macau residents and bet on football and basketball games. Sources detailed that the latter provision represents a significant policy change and could indicate that jurisdiction is open to other such providers to use such licenses.



Macao Slot Company Limited is the trade name of the Apostas Mutuas de Macao Limited in Sociedad de Lotarias and was reportedly granted local exclusive rights to football - related sports betting in 1998. Macau Horse Racing Company Limited, which is responsible for the Macau Jockey Club Stadium, is known to hold similar horse racing betting licenses, and over the millennium, the former company's scope has expanded to professional basketball.



Matter and Inside Asian Gaming says Macau Slot Company Limited's new license is an extension of authorization in 2016 and could be further extended in mid-2024, if the city government agrees. However, the source explained that authorization could be revoked immediately by the chief executive of the former Portuguese residence if the operator was unable to maintain the workforce, a regulation specifically related to local staff.



While the company posted a profit of $19.3 million for 2019, down 30% year-over-year, the new license contains provisions that allow it to organize and operate "other forms of lottery or mutual betting" pending approval from the Game Inspection and Coordinating Bureau regulators.

Macao Slot Company Limited has held licenses for many years, but annual gross gaming revenue has long been said to be a fraction of the city's total gambling revenue. GGRAsia cited information from the Gaming Inspection and Coordination Bureau, saying the company's tally for 2020 totaled $67.9 million, or 0.89% of the total of about $7.6 billion.



More than 40 casinos in Macau could potentially be offered the opportunity to diversify their products and revenue streams by joining the Macau Slot Company Limited and offering sports betting, according to the Macau news agency

슬롯머신

Community Critique