Macau casino bidders must submit final investment plans today
The seven casino operators that have submitted bids under Macau’s casino licence retender process must present a final version of their investment plan.
Macau.- Today is the deadline for the seven casino operators that have submitted bids for a new Macau casino licence to submit the final version of their investment plans. This follows several rounds of talks with the gaming tender commission over the past eight weeks.
Investment plans must include details of proposals for investment in non-gaming activities over the 10-year duration of the new casino licences. It’s been reported that casino operators have been told submit plans for film festivals, cultural performances and carnivals and to strengthen relationships with local small and medium enterprises (SMEs). Operators will reportedly need to invest as much as MOP100bn (US$12.4bn) during the concessions.
This includes funding for international events such as the Macau Grand Prix and the Macau International Marathon. Both are important events for tourism in Macau, which can also benefit casinos. The government will also require licensees to support smaller events organised by local associations and the government.
Another requirement will be for casino operators to fund music events brought in from abroad, including from China and South Korea in a bid to appeal to more visitors.
All six of Macau’s current casino operators have submitted bids for new licences along with GMM, a company linked to Lim Kok Thay, chairman of Genting Group, which operates casino resorts in Malaysia, Singapore and elsewhere. Its bid was a surprise entry but many analysts believe it is unlikely that Macau will leave out any of its six current casino operators.
