Macao Cuts Casino License Tenure, Caps Public Float in New Law

(Bloomberg) — Macao plans to issue a maximum of six casino licenses for terms extending to 13 years and limit the public float of gambling operators as part of much-anticipated legal changes aimed at tightening government oversight of the world’s largest gaming hub.

The licenses will carry a term of 10 years which can be stretched by three years, according to a government briefing Friday. The Macaoadministration also wants to increase the proportion of local ownership in casino firms from the current 10% to 15%.