Macau gaming concession tender could go ahead in H2, GEG chairman believes
Francis Lui Yiu Tung, deputy chairman of Galaxy Entertainment Group, said the retender for Macau’s six gaming concessions could start in the second half of this year.
Macau.- Francis Lui Yiu Tung, vice-chairman of Galaxy Entertainment Group Ltd, has said that a new public tender for Macau gaming concessions could “begin in the second half of this year”. The current casino concessions expire on June 26.
He said: “We also heard from the [Macau] government that the extension of the existing gaming concessions is also an option. So we will continue to liaise with the government to see what we need to do going forward.”
Macau’s Legislative Council approved the first reading of Macau’s gaming law amendment bill last month with just one vote against it. The bill was sent to the committee-level evaluation. A final reading to the gaming law amendment bill is expected by June before the current casino concessions expire.
Galaxy Entertainment chief financial officer Robert Drake said that the group’s strong operating history in Macau, significant investments and its corporate social responsibility efforts put it in a competitive position for a new bid for Macau gaming rights.
The new gambling bill forsees an end to the current sub-concession system in Macau, however regarding his company’s satellite casinos, Francis Lui Yiu Tung said: “It is too early to say whether we would acquire the City Clubs casinos.”
