It was announced today that Paulo Martins Chan, Macau’s chief gaming regulator since late 2015, is stepping down.<\/p>\n
Chan became the director of the Macau Gaming Inspection and Coordination Bureau (DICJ) in December of 2015. The DICJ director serves one-year terms, but can be reappointed without limitation.<\/p>\n
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After more than four years in the role, Chan requested to be let go of his duties in order to return to the Public Prosecutions Office. No official date for his departure from the gaming agency was announced, but a DICJ spokesperson said his replacement would be confirmed “in due time.”<\/p>\n<\/div>\n
Prior to joining the DICJ, Chan was an assistant public prosecutor-general. The DICJ “provides guidance and assistance to the Chief Executive of Macao SAR on the definition and execution of the economic policies for the operations of the casino games,” the agency’s website states.<\/p>\n
Then-Chief Executive Fernando Chui supported Chan’s appointment. Following two five-year terms, Chui was replaced in December by Ho Iat Seng \u2013 only the third chief executive of Macau since its return from Portugal to China in 1999.<\/p>\n
The next DICJ director will be tasked with overseeing the agency through the most critical time in its history, as all six gaming licenses are set to expire in 2022. The agency is currently reviewing all aspects of the casino industry, and preparing to announce details on the forthcoming tender process.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau casino revenue is down some 95 percent through the first 10 days of May, claims brokerage Sanford C. Bernstein. In May 2019, the six licensed casino operators reported gross gaming revenue (GGR) of MOP25.952 billion ($3.25 billion). That comes out to roughly $104.8 million per 24 hours in casino win. This month, however, is […]<\/p>\n","protected":false},"author":25,"featured_media":135625,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[],"acf":[],"yoast_head":"\n
Macau Casino Revenue Down 95 Percent, Top Regulatory Official Departs<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n