Local media have confirmed casino operators will have to pay between MOP50m and MOP80m for the six-month extension of the current concessions.
Macau.- Media in Macau have reported that casino operator will be required to pay between MOP50m and MOP80m (US$10m) for the extension of their current concessions until the end of the year. TDM Radio also reported that operators will have to present a bank guarantee of up to MOP1.6bn to protect against possible layoffs in the event that their licence is not renewed.
Macau’s current casino licences were due to expire in June 2022 and a tender process for renewal has yet to be held due to delays in changes to Macau’s gaming legislation. Last week, the government confirmed it will extend the current gaming concessions and sub-concessions for up to six months.
A new concession tender is expected to be held in the third quarter following the final approval of Macau’s gaming law amendment bill. New licences would then be issued in the fourth quarter in preparation for a new 10-year licence period from the beginning of 2023.
A final reading of the gaming law amendment bill is expected by June. The bill at present would allow up to six ten-year gaming concessions with the possibility of a 3-year extension. The existing six concessionaires are expected to win the tenders.