SJM Holdings CEO confident about Macau casino licence renewal
Ambrose So Shu Fai has said SJM Holdings is optimistic that its gaming concession will be renewed.
Macau.- The year 2021 is coming with still no clarity on the possible renewal of Macau’s six gaming concessions, but SJM Holdings CEO Ambrose So Shu Fai has told local public broadcaster TDM the company is “optimistic” about retaining its casino licence.
Shu Fai said: “SJM is a company rooted in Macau and I think we stand a very good chance of winning a new licence.”
Macau’s chief executive Ho Iat Seng has been asked about a possible renewal of Macau’s six gaming concessions and the timetable for completing the review of Macau’s gaming laws, but he hasn’t given a date.
The Macau government had previously stated that the current casino licences will expire in June 2022 as planned and that a new open tender process would be conducted, but Macau’s gaming law is due to be revised first, which makes a June tender look increasingly unlikely. The city’s gaming laws state that licences can be extended for up to five years from their original 20-year term.
Shu Fai also said that he believes that US casino operators in Macau will face no problems as a result of the political tensions between China and the United States.
He said: “If U.S.-based casino operators obey the law and they support Macau, I think they should be welcomed rather than punished.”
In November, during the presentation of MGM Resorts’ financial results for the third quarter of the year, Bill Hornbuckle, MGM president and CEO, said he was “highly confident” that MGM China’s gaming concession would be renewed.
Hornbuckle said: “Whether or not this all gets done in time for June, we don’t know yet. There are some steps the Macau authorities still have to go through publicly with the Legislative Assembly.”
He added: “MGM looks forward to further promoting the long-term development of Macau’s gaming industry and to supporting the government’s tourism and diversification goals for the region.”
