The government has published the criteria and procedures for the concession tender process.
Macau.- The government of Macau has published the framework for the retender of the city’s gaming licences including the criteria and procedures for the process. The move comes 14 days after authorities approved Macau’s revised gaming legislation.
The tender will be run on a restricted procedure with prior qualification. At least eight bidders must be admitted to the consultation phase unless otherwise decided by the chief executive.
The new gaming legislation allows up to six gaming concessions – equal to the current number – with a length of 10 years. Casino operators must have a registered capital of at least MOP5bn while their licences are valid. The concessionaire and anyone holding more than 5 per cent of the operator’s shares must not own, directly or indirectly, the capital of another concessionaire.
According to the document, satellite casinos would no longer be covered in the public tender regulation as these venues will be regulated by a special law currently under discussion by the legislative council.
The last tender in 2001 closed 42 days after the general criteria were published, which suggests that Macau could complete the new bidding process around mid-to-late August. Last time, the government announced the winners in early February 2002, but winners in this tender are expected to be announced in late October or early November in time for the concession periods to begin in January. The original concessions began in late March 2002, 153 days after the promulgation of the administrative regulation.