Local media have confirmed casino operators will have to pay between MOP50m and MOP80m for the six-month extension of the current concessions.<\/p>\n\n\n\n\n\n\n\n
Macau.- Media in Macau have reported that casino operator will be required to pay between MOP50m and MOP80m<\/strong> (US$10m) for the extension of their current concessions until the end of the year. TDM Radio also reported that operators will have to present a bank guarantee <\/strong>of up to MOP1.6bn to protect against possible layoffs in the event that their licence is not renewed.<\/p>\n\n\n\n Macau’s current casino licences were\u00a0due to expire in June 2022<\/strong> and a tender process for renewal has yet to be held due to delays in changes to Macau\u2019s gaming legislation. Last week, the government confirmed it\u00a0will extend the current gaming concessions<\/a>\u00a0and sub-concessions for up to six months.<\/p>\n\n\n\n A new concession tender is expected to be held in the third quarter following the final approval of Macau’s gaming law amendment bill. New licences would then be issued in the fourth quarte<\/strong>r in preparation for a new 10-year licence period from the beginning of 2023.<\/p>\n\n\n\n A\u00a0final reading of the gaming law amendment bill<\/a>\u00a0is expected by June. The bill at present would allow\u00a0up to six ten-year gaming concessions<\/a> with the possibility of a 3-year extension. The existing six concessionaires are expected to win the tenders.<\/p>\n","protected":false},"excerpt":{"rendered":" Local media have confirmed casino operators will have to pay between MOP50m and MOP80m for the six-month extension of the current concessions.<\/p>\n","protected":false},"author":176,"featured_media":26708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau casino operators are mandated to pay MOP50m-MOP80m for a six-month concession extension and provide a MOP1.6bn bank guarantee. This interim measure facilitates operational continuity as delays in gaming law amendments push the new 10-year concession tender process to Q3 2022, with new licenses expected by Q4 2022.","focusai_entities":"TDM Radio, Macau government","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.9), operator_casino (1.0), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.85)","focusai_suggestions":[{"label":"Gaming Law Bill Impact?","query":"What specific amendments within the Macau gaming law amendment bill necessitate this concession extension, and what are their anticipated long-term implications for the operational frameworks of concessionaires?"},{"label":"Bank Guarantee Liquidity?","query":"How will the MOP1.6bn bank guarantee requirement impact the liquidity positions and capital allocation strategies of the existing concessionaires, particularly in the context of ongoing market recovery?"}],"footnotes":""},"categories":[16338,156,158],"tags":[23911,23906],"class_list":["post-27917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-regulation-news","category-slider-home","tag-gambling-regulation","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27917","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=27917"}],"version-history":[{"count":5,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27917\/revisions"}],"predecessor-version":[{"id":27950,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/27917\/revisions\/27950"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26708"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=27917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=27917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=27917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}