Sands China and Melco submit bids for Macau gaming concessions

With little competition, analysts predict that Macau’s current six gaming operators will all win new concessions.

Macau.- With the deadline for submissions closing today, three operators have confirmed that they have submitted bids for new 10-year gaming concessions in Macau. Sands China and Melco have confirmed their bids following Wynn Macau‘s announcement yesterday.

Sands China submitted a bid as Venetian Macau, SA, the company that holds its current gaming rights. Melco submitted its bid under the name of its subsidiary Melco Resorts Macau. While the three remaining casino operators have not yet disclosed their bids, all are expected to be participating, with little competition expected from other parties.

Companies must submit some required eligibility documents and pay a minimum deposit of MOP10m (US$1.2m) by the end of the day today. Macau’s 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 winners of the tender are expected to be announced in late October or early November in time for the concession periods to begin in January.