Macau released a new draft law that would cut the tenure for new casino licenses in half and require operations to align with China’s national security needs, but wouldn’t reduce the number of licenses in the lucrative gambling hub.
Details of the bill were unveiled Friday by Macau’s cabinet and will be submitted to the local legislature for deliberation. The draft followed an earlier set of proposals in September that triggered fears of a crackdown among investors, as Beijing seeks to increase regulatory oversight of what has been a cash cow for Western casino operators.
