BUSINESS

Macau government not ending SLOT monopoly anytime soon

TAGs: Macau gambling, Macau government, Macau Slot

macau slotMacau Business reports in its September issue that the Macau government doesn’t have any plans to change Macau Slot’s de facto non-racing sports betting monopoly anytime soon. Founded in 1989, SLOT is the first government-franchised company to offer the sale of instant winning lottery tickets on passenger ferries running between Hong Kong and Macau.

It started as a monopoly on instant lottery operation in Macau and on board the vessels plying between Hong Kong and Macau. In 1998 just prior to the World Cup Macau Slot was granted the franchise from the Macau Government to offer soccer betting and became the first government-franchised company in Asia to operate a sports betting business. In 2002 the company was awarded a government-franchise for basketball betting and since then the company has expanded its sports gaming services significantly.

You can’t really blame the Macau government or even second guess their decision at this point, not with how booming business has been, they’re obviously doing something right.

While the Gaming Inspection and Coordination Bureau examines the feasibility of enhancing the current operational module of sports lottery in Macau, a spokesperson for the Gaming Inspection and Coordination Bureau told Macau Business, “It is estimated that the decision making process shall take some time as the government will certainly need to take into consideration the possible social impacts, such as problem gambling, arising from any changes,” the spokesperson added.

Meanwhile, the Macau government has renewed its contract with Macau Slot for another year, marking the third consecutive such extension.

Comments

views and opinions expressed are those of the author and do not necessarily reflect those of CalvinAyre.com