Amendment to Macau Gaming Law: Proposed Limitations to Payment of Dividends

The proposed limitation to submit payment of dividends by the gaming concessionaires to government authorization has caused havoc and apprehension among investors and in the financial markets. While no details are provided as to the nature and requirements of such authorization, our insight focuses on the nature and (in)consistency of such measure with the Macau legal system and its efficiency to achieve the proposed objective of “promoting the sustainable and diversified development of the Macao SAR”, as well as on the availability of other legal mechanisms to achieve such (legitimate) goal.