The CEO of Macau operator SJM Holdings has suggested Macau should extend the existing six gaming concessions for at least one year.
Macau.- Ambrose So Shu Fai, CEO of SJM has said he believes Macau should extend its six current gaming concessions for an extra year.
According to Shu Fai, the move would give Macau’s gaming operators time to recover from the Covid-19 pandemic and the city time to better decide what changes to make to licence criteria.
He noted that Macau’s current travel restrictions would make it impossible for foreign passport holders to visit the city for the retendering process.
Macau’s current casino licences will expire in June 2022 but could be extended for up to five years under the city’s gaming laws.
There are different opinions regarding possible changes to the licence criteria. Some have suggested Macau should include requirements to promote the diversification of Macau’s economy to avoid it being so highly dependant on tourism and the casino industry.
Other have said Macau should allow casinos to turn to online gambling and technology to recover.