All Macau casino operators have requested extension of concessions
Adriano Ho of the Gaming Inspection and Coordination Bureau (DICJ) has confirmed that the six operators have submitted proposals to extend their concessions for another six months.
Macau.- It’s been confirmed that all six Macau casino operators have applied to extend their concessions pending a retender later in the year. The current licences are to expire in June, but last month Lei Wai Nong, Macau’s secretary for economy and finance, confirmed that licences would be extended until December 31.
Sands China had already confirmed that Venetian Macau Ltd had applied for the extension, which entails a MOP47m (US$6m) fee and provision of a bank guarantee up to MOP1.6bn to cover possible employee dismissals. Now DICJ director Adriano Marques Ho has confirmed that all operators have applied for the extensions.
He said: “We received the requests and we are analysing. When the moment is right we will divulge the decision.”
Macau’s gaming law amendment bill, which is still in debate, would allow up to six gaming concessions with a length of 10 years and the possibility of a 3-year extension. A final reading of the gaming law amendment bill is expected by June.
Seven satellite casinos will stop operating by mid-year
Gaming industry sources told the Chinese-language newspaper Macau Daily that seven satellite casinos plan to suspend operations by mid-year. The casinos are said to have taken the decision due to the negative impact of repeated Covid-19 outbreaks, tighter visa requirements in the city and lack of cash flow.
There are currently 18 satellite casinos in Macau operating under licences attached to one of the six casino concessionaires but run by third parties on individually owned premises. Some 14 of those satellite casinos are operating under the licence of SJM Holdings Ltd, and the other four are tied to Galaxy Entertainment Group (GEG) and Melco Resorts and Entertainment Ltd.
