Macau announces deadline for gaming concession tender process
Authorities have announced that casino operators must submit their proposals before September 14.
Macau.- The commission tasked to oversee Macau’s gaming concession retender has announced tht period for submitting bids will run until 5.45pm, Macau time, on September 14. Under the executive order, companies must submit some required eligibility documents and pay a minimum deposit of MOP10m (US$1.2m).
The commission, which was set up this week, said bids will be evaluated in accordance with the following factors:
- The company’s proposal to expand tourist markets from foreign countries;
- Its experience in operating casinos or other relevant businesses;
- The benefits of their gaming and non-gaming investments;
- The company’s plans to manage its casino operations;
- Its monitoring and prevention of illegal casino activities recommendations;
- Its commitment to corporate social responsibility activities.
André Cheong Weng Chon, chairman of the Macau committee, said he hopes the process can be completed this year in time for the new concessions to start on January 1, 2023. He said the committee would do all it can to ensure that the tender requirements are fair to Macau’s six existing operators and other bidders.
The new gaming legislation allows up to six gaming concessions – equal to the current number – with a length of 10 years. Casino operators must have a registered capital of at least MOP5bn while their licences are valid. The concessionaire and anyone holding more than 5 per cent of the operator’s shares must not own, directly or indirectly, the capital of another concessionaire.