Macau casino operators must invest up to US$12.4bn over 10 years
Companies seeking a gaming concession will have to fund international events.
Macau.- As we wait for the results of Macau’s casino licence retender, new details have emerged about the government’s requirements for licensees. TDM Radio Macau has reported that authorities told operators they will need to invest as much as MOP100bn (US$12.4bn) during the ten-year 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. Macau’s economic downturn caused by the Covid-19 pandemic has led authorities to rethink its dependence on gaming and insist that operators increase investment in non-gaming areas.
The commission overseeing Macau’s casino retender has said that 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.
Authorities expect to have the results of the retender ready in time to issue new licences by the end of the year.
