New gambling law in Macau

After persistent rumors and tough struggles, a new gambling law was adopted in Macau. In the future, a different wind will blow in the Asian gaming metropolis, which brings significantly more strict regulations for the local gaming industry. In this way, the new legal framework grants more state control.

More control & less dependency

Macau is the biggest gambling metropolis in Asia, if not even all over the world. The Chinese special administration zone is located on the coast of the Chinese mainland and is the home of countless casinos, arcades and other gambling facilities. Year after year, the Asian gambling Mecca attracts countless tourists who flush the government’s enormous sums into the government’s coffers. Nevertheless the Industry an important economic engine is now issued a strict gambling law.

Legislative Assembly of Macau. The amendment of the Gambling Act goes back to the legislative Assembly of Macau (LAM), which acts as a higher -level authority of the legislative and consists of a total of 33 members.

Experts assume that the new legal framework Print of the Chinese government was installed. For some time, Beijing has been pounding Macau much more independent of gambling and focusing on other areas.

The Communist Party around Secretary General XI Jinping calls for more commitment to industries such as technology and finance, Chinese medicine as well as events and tourism. At the same time, stricter regulations should prevent money laundering. Basically, the new law shifts the power structure on the gaming market in Macau and the authorities grants more control.

LAM member is right against amendment to the law

The LAM consulting meeting lasted around two hours before the change in the Gambling Act was made. However, it was not unanimously decided. So a member was against the introduction of the new legal framework – however Not from charity to the gaming industry.

Ron Lam U Tou spoke out against the change in law, since Article 22 (3) of the new version Potential tax relief for the casinos in Macau comprises. This comes into play when gaming operators successfully acquire tourists from abroad. In the past, many foreign and wealthy visitors became Locked into the metropolis over the junkets.

Tax relief. Article 22 (3) of the new gambling law provides for a tax reduction of five percent if a casino has successfully launched foreign visitors into the metropolis.

Lam fears that tax relief affect the social system in Macau negatively could. The social security is financed by taxes in the special administrative zone. Since the casinos and arcades achieve great income and thereby have high tax levies, money could be missing in the social system.

Leida Wai Nong, Minister of Economics and Finance, pushed a stop to the horror scenario. He rejected the lams of objections and explained that the acquiring of foreign visitors from enormous Meaning for financial and economic stability be. The social benefits for people in need are completely independent of gambling.

Macau – autonomous gaming paradise in China

The gambling in Macau was able to flourish over the decades without greater influence by the Chinese government. The special administrative zone belongs to the People’s Republic of China, but the Portuguese prevailed in today’s gaming metropolis for more than 400 years. For this reason Suck the area just in front of European influenceswho work completely contrary to the Chinese and Asian culture.

For more than 20 years now, Macau has been Autonomous and independent of China ruled. The very special principle from international law can also be found in the former British colony of Hong Kong. The Chinese government is officially only responsible for national defense and foreign policy in Macau. The autonomous government is responsible for what happens within the city.

This system has only made it possible for gambling to flourish and the economy in Macau has exploded over the years. That’s how it is Gross domestic product rose sharply over time. In 1999 it was around $ 15,000 per capita, in 2018 it was almost $ 112,000 per inhabitant. This prosperity goes back almost exclusively to the gambling industry.

The economic upswing was favored by a Strict ban on gambling on the Chinese mainland. Beijing drives a zero tolerance policy and punishes any form of gambling activities. Accordingly, many Chinese see Macau and play in the many casinos. Over time, more and more tourists from abroad have become aware of the gambling offer in the special administrative zone.

Dependence on gambling. With the new gambling law, Beijing in Macau wants to obtain more independence from gambling. However, this goal will not be so easy to achieve, since prosperity and economic stability are completely built up in the gambling industry.