{"id":24210,"date":"2021-11-04T08:00:09","date_gmt":"2021-11-04T11:00:09","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=24210"},"modified":"2026-04-23T14:09:27","modified_gmt":"2026-04-23T17:09:27","slug":"mgm-ceo-optimistic-about-macau-casino-licence-renewal","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/mgm-ceo-optimistic-about-macau-casino-licence-renewal","title":{"rendered":"MGM CEO optimistic about Macau casino licence renewal"},"content":{"rendered":"\n

Bill Hornbuckle, MGM president and CEO, has said he is \u201chighly confident\u201d that MGM China’s gaming concession will be renewed.<\/p>\n\n\n\n\n\n\n\n

Macau.- During the presentation of MGM Resorts’ financial results for the third quarter of the year,\u00a0Bill Hornbuckle, MGM president and CEO<\/strong>, said he is confident MGM’s gaming licence in Macau will be renewed.<\/p>\n\n\n\n

Macau\u2019s current casino licences are\u00a0due to expire in June 2022<\/strong>. However, the city\u2019s gaming laws state that\u00a0licences can be extended for up to five years<\/strong>\u00a0from the original 20-year term.<\/p>\n\n\n\n

Hornbuckle stated: “Whether or not this all gets done in time for June, we don\u2019t know yet. There are some steps the Macau authorities still have to go through publicly with the Legislative Assembly.\u201d<\/p>\n\n\n\n

He added: “MGM looks forward to further promoting the long-term development of Macau\u2019s gaming industry<\/strong>\u00a0and to supporting the government\u2019s tourism and diversification goals for the region.”<\/p>\n\n\n\n

Macau\u2019s Gaming Inspection and Coordination Bureau (DICJ) has reported that 359 people attended the series of\u00a0public consultation sessions on gaming laws<\/a>. Attendees expressed\u00a0concerns about the number and duration of future gaming concessions<\/strong>\u00a0and about proposed controls on dividend distribution.<\/p>\n\n\n\n

A\u00a0Macau law firm<\/a>\u00a0\u00a0questioned that proposal, arguing that \u201cthere is no legal framework to justify any intervention by the Macau authorities<\/strong>\u00a0in the distribution of dividends from private companies.\u201d<\/p>\n\n\n\n

Questions about a possible end to the current sub-concession system<\/a> that led to the creation of three additional Macau casino licences also arose during the sessions.<\/p>\n\n\n\n

MGM CEO has no worries about increased control over Macau\u2019s casinos<\/h2>\n\n\n\n

Bill Hornbuckle<\/strong> said that he has no concerns about the proposed changes to Macau\u2019s gaming laws<\/a>, and that tighter controls shouldn\u2019t modify the industry<\/strong>.<\/p>\n\n\n\n

During an interview with Yahoo Finance, he said the Gaming Inspection and Coordination Bureau (DICJ) already maintained significant oversight over operations. <\/p>\n\n\n\n

Hornbuckle noted that he is optimistic as casinos contribute to 80 per cent of government revenue and are a key driver for Macau\u2019s economy. He said: \u201cWe are hoping rational minds control in the end because this is the Macau economy.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Bill Hornbuckle, MGM president and CEO, has said he is \u201chighly confident\u201d that MGM China’s gaming concession will be renewed.<\/p>\n","protected":false},"author":176,"featured_media":23015,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"MGM President and CEO Bill Hornbuckle expresses high confidence in MGM China's gaming concession renewal in Macau, despite the upcoming June 2022 expiry and ongoing public consultations on new gaming laws. He dismisses concerns over proposed tighter controls, emphasizing the industry's critical contribution to Macau's economy and government revenue. Discussions during public consultations have raised questions regarding concession duration, dividend distribution controls, and the future of the sub-concession system.","focusai_entities":"Bill Hornbuckle, MGM, MGM China, MGM Resorts, Gaming Inspection and Coordination Bureau (DICJ), Legislative Assembly, Yahoo Finance","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (1.0), compliance_legal (0.9), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau Concession Amendments?","query":"What specific legislative amendments are being considered regarding sub-concessions and dividend distribution, and what is their potential impact on operator profitability and governance frameworks?"},{"label":"Regulatory Oversight Impact?","query":"How might the proposed increase in regulatory oversight in Macau influence future capital expenditure, operational strategies, and competitive dynamics for concessionaires?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906,1618,16615],"class_list":["post-24210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-casinos","tag-mgm-china","tag-mgm-resorts"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24210","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=24210"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24210\/revisions"}],"predecessor-version":[{"id":24221,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/24210\/revisions\/24221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/23015"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=24210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=24210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=24210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}