Macau casino operators to sign new concession contracts on Friday
The government will sign ten-year contracts with the six gaming concessionaires.
Macau.- The government of Macau will sign new ten-year contracts with each of the six gaming concessionaires on Friday afternoon. The new concessions, which were provisionally granted to the six current operators on November 26, will begin on January 1, 2023.
The casino licensees will remain the same as at present: MGM China Holdings Ltd, Galaxy Entertainment Group Ltd, Sands China Ltd, Melco Resorts and Entertainment Ltd, Wynn Macau Ltd and SJM Holdings Ltd.
Andre Cheong Weng Chun, chairman of the tender committee and Secretary of Administration and Justice, said that in the tender competition, MGM China’s proposal received the highest score. Galaxy Entertainment’s proposal came second, followed by Sands China, Melco Resorts and Wynn Macau. SJM Holdings’ proposal received the lowest score.
The one outsider, GMM Limited, linked to Genting chairman Lim Kok Thay, failed to secure a gaming concession.
Macau’s casino operators might have to spend between HKD10bn (US$1.27bn) and HKD20bn (US$2.54bn) on non-gaming activities over the next 10 years in exchange for gaming rights. Casino operators will be allowed to build gaming zones exclusive to foreign gamblers. The move will allow them to gain an exemption on a 5 per cent levy on gross gaming revenue from these areas.
See also: Vote on Macau junket bill to take place on December 15
