Aristocrat now has a new limited liability company at Macau
Aristocrat the great pokies brand company of Australia-known as Aristocrat Leisure Ltd. is changing things up at its operations in Macau. It has formed a new limited liability company (LLC) that will be in charge of all the company’s business in the city. The new business was created in order to comply with a proposed directive by the Macau government that seeks to have all gaming equipment manufacturers operate through an LLC, instead of as a division of a foreign-owned company.
Aristocrat Technologies Macau Limited will replace Aristocrat (Macau) Proprietary Limited, a subordinate who’s license by Macau’s Gaming Inspection and Coordination Bureau regulator, has just expired. According to Aristocrat Leisure Limited, these changes have been made to continue their operations in Macau. It was all initiated by the Macau government and their officials’ agreement that all local gaming machine providers need to register as limited liability enterprises in the special administrative region of China. It’s been noted that LLC requests had been introduced a few years back but they haven’t been implemented to the letter up until now.
In the statement from Aristocrat, it was revealed that the directive draft had a date set on January 1, 2019. Despite that, at this point, there are still no revised regulations, made available to the public. To get ahead of things by switching all business affairs to limited liability company, and at the same time, to fulfill all mandatory requirements, Aristocrat Leisure Limited has founded Aristocrat Technologies Macau Limited. Their new venture is finally locally-registered company and it can continue with business as usual.
The new establishment already has a license from the Gaming Inspection and Coordination Bureau, valid until the end of March 2020 or earlier in case of suspension or being revoked. According to Chris Rowe, Asia-Pacific Managing Director for Aristocrat Leisure elaborated that Aristocrat Technologies Macau Limited ownership fully remains in Australia-based headquarters. He added when it comes to management, everything stays as it is. Furthermore, they are making sure that the process goes as smoothly as possible and without any disturbance.
According to World Finance, Gaming machine suppliers have to require DICJ administrative authorisation to operate in the Macau gaming industry. They must perform their commercial activity through an affiliate or a limited liability company by shares (sociedade anónima, according to Macau Law). Its share capital must be wholly represented by nominative shares and such company’s activity (as reflected in the respective articles of association) may only consist in ‘producing, supplying, assembling, installing, programming, repairing, adapting, modifying, technically assisting and maintaining gambling machines.
Aristocrat pokies are popular in the world and are available at real land casinos as well as online casinos. The company was founded in 1953 in Australia and now has its global presence in over 90 countries and 240 jurisdictions. Aristocrat provides a range of products, including casino management system, social gaming and electronic gaming machines that are used by both online casinos and live casino establishments worldwide.