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Pursuant to articles 14 and 15 of the Macau Gaming Law, experience, reputation and integrity are absolutely mandatory requirements for all concession holders, as well as financial capacity.
The aforementioned conditions must be maintained and verified for the entire period of concession 20 years. Moreover, according to the same piece of legislation, casino concessionaires and sub-concessionaires are not allowed to operate with a capital below million Patacas.
Competitive restraints are also placed upon gambling operators, including prohibiting anti-trust agreements and practices among the concessionaires and sub-concessionaires, or companies from the same groups, as well as the abuse of a dominant position and the control of shareholdings.
Under article 13 of the Macau Gaming Law, the maximum term of a gaming concession is 20 years, which must be clearly set under the concession contract.
However, in case a concession is granted for a shorter period of time, one or two additional extensions are legally permitted up to the said limit of 20 years.
This was the case for SJM and MGM, whose concession and sub-concession were initially granted for a term of 18 years being then extended two more years until 26 June Despite the above, concession contracts might be exceptionally and extraordinarily extended one or more times up to a maximum of five years upon justifiable grounds and duly substantiated by the Chief Executive.
Being that the case, it is possible that the current concessions and sub-concessions have a total term of 25 years. This was already applied for the case of SJM and MGM 20 years would lapse on 31 March and the concession and sub-concession were extended to 26 June According to article 43 of the Macau Gaming Law, a previously granted concession may be unilaterally terminated by the Government in cases where there is a breach of the concession contract, as well as the infringement of any other legal provision governing the underlying activity, or even for reasons of public interest.
It is also possible under the law and concession contracts for the Government to redeem or sequestrate the concessions under certain circumstances.
Please include in this answer any material promotion and advertising restrictions. Assuming that a concession has been awarded by means of a public tender, concession holders can only provide the services described by the Macau Gaming Law and stated in the concession contract.
Therefore, table games and game machines slots can only be offered inside land-based casinos and other authorised venues, whereas horse racing and sports betting concessionaires are offered outside casinos.
As a matter of fact, neither sports betting nor pari-mutuels are deemed to be games of chance and fortune. According to the Macau Gaming Law, it is not legal to offer pari-mutuels or operations offered to the public lotteries in a casino environment, even though the same piece of legislation provides that lotteries might be exploited by casinos after a dispatch of the Secretary for Economy and Finance and assuming that an amendment to the concession contract is made.
In summary, the concessions and sub-concessions of games of fortune and chance cover: all games mentioned in article 3 of the Macau Gaming Law table games ; other games of chance authorised and regulated by the Government after ; and authorised electric or mechanical machine games slot machines.
The forms of gaming not covered by casino concessions and sub-concessions are: pari-mutuels horse racing ; operations offered to the public sports betting and lotteries ; and interactive casino games understood as online games.
Regarding promotion and advertising restrictions, and according to the Advertisement Act enacted in , games of fortune and chance cannot be advertised if the games themselves are the main message of the advert.
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News Global Payments Newsletter, December 17 December Key developments of interest over the last month include: United Kingdom: HM Treasury is consulting on proposed insolvency changes for payment institutions and electronic money News Financial institutions general regulatory news, 14 December 14 December Recent regulatory developments of interest to all financial institutions.
News Payments regulatory news, 14 December 14 December Recent regulatory developments focussed on the payments sector.
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What is Labor Law? What is Land Zoning Law? The Law On Prohibition of Gambling Business in Ukraine also applied to internet casinos, it did not apply to lotteries.
Parliament legalised gambling again on 14 July Albeit with regulations and age restrictions minimum age of From Wikipedia, the free encyclopedia.
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May Learn how and when to remove this template message. Main article: Gambling in the United States.Die anderen drei Bewerber waren an einem oder mehreren Mindestkriterien des Glücksspielgesetzes gescheitert. German Eurojackpot 10.04 20 Law updated, no. ARENDTS ANWÄLTE offers comprehensive legal counselling in the field of sports betting- and gaming law.