All Six Macau Casino Concessionaires Submit Applications for Tenders Before Deadline 492k1g

Summary 26a2w

• All 6 Macau gaming concessionaires apply for license renewal
• The new licensing agreement is expected to start from 01 Jan 2023
• Non-gaming activities a big focus for gaming operators in 2023

All of Macau’s six casino concessionaires handed in their bid proposals for the new casino rights tender two hours and fifteen minutes before the September 14, 2022 deadline set by the government.

The tender will provide casino rights for 10 years to the operators. The Macau government hopes to begin the new term in 2023.

Concessionaires Turn In Bids After License Expires 3s3o5w

The proposals were turned in by the incumbents’ local unit in Macau. Galaxy Entertainment, MGM China, Melco Resorts & Entertainment, Sands China, Wynn Macau, and SJM Resorts are the incumbents whose licenses expired this year on June 26. The other concessionaires, besides Wynn Macau and Galaxy Entertainment, filed their applications on September 14. Wynn Macau was the earliest to submit its bid on September 13. Galaxy Entertainment was the last operator to turn in the bid proposal.

Galaxy deputy chairman Francis Lui Yiu Tung was confident that the Macau government would approve its application. Liu noted that Galaxy performed well in all aspects during the last two decades. The group was unfazed by the dim prospects of Macau’s gaming sector. Lui said that the government was clear about what they required from the operators. He also iterated Galaxy’s wish to help in boosting the city’s development.

MGM China co-chairperson Pansy Ho Chiu King was sure that the group’s bid would be approved. MGM began preparing the proposal a year in advance. Other operators also sounded confident about their prospects. Melco chairman Lawrence Ho Yau Lung commented that the operator’s bid emphasizes its dedication to diversifying Macau’s economy. Sands China parent Las Vegas Sands Corp chairman Robert Goldstein released a statement saying that the proposal reiterated the group’s intention to continue investing in Macau.

Goldstein said that Sands China had some faith in Macau’s potential to be a successful business and leisure tourist destination in the future. Goldstein added that the firm’s investments in its team and assets prove its commitment to the city’s development. SJM Holdings was also quite assured about its future. The group’s chairman, Daisy Ho Chiu Fung, expressed SJM’s eagerness to work with the Macau government and bring about positive growth and development for the city.

New Tender is a Big Opportunity for Operators v852

Currently, six casino operators run 41 casinos across the city. The new tender will present a long-term opportunity for the concessionaires to work with the government. With the new tenders, the Macau government is eager to welcome more customers from abroad to its casinos and expand its range of non-gaming products. All six concessionaires will have to work hard at increasing their non-gaming activities which is a big priority for the Macau government.