{"id":28451,"date":"2022-03-28T06:58:55","date_gmt":"2022-03-28T09:58:55","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=28451"},"modified":"2026-04-23T10:10:09","modified_gmt":"2026-04-23T13:10:09","slug":"sands-china-charged-us6m-for-six-month-licence-extension-in-macau","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sands-china-charged-us6m-for-six-month-licence-extension-in-macau","title":{"rendered":"Sands China charged US$6m for six-month licence extension in Macau"},"content":{"rendered":"\n<p>Through its latest financial report, Sands China has revealed it has been asked to pay MOP47m (US$6m) for the six-month extension of its current concession.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- Sands China has revealed that Venetian Macau Ltd, the subsidiary that holds its Macau gaming rights, applied for an extension of its current casino concession on March 14. The company was asked to pay MOP47m (US$6m) and to provide a bank guarantee reaching up to MOP1.6bn to cover possible employee dismissals.<\/p>\n\n\n\n<p>Macau casino licences were\u00a0<strong>due to expire in June 2022<\/strong>, but a tender process for renewal has yet to be held due to delays in changes to Macau\u2019s gaming legislation. As a result, Macau has decided to grant extensions on the current casino licences <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-casino-licences-to-be-extended-to-december-31-2022\" target=\"_blank\">until December 31<\/a>.<\/p>\n\n\n\n<p>JPMorgan Securities has said it expects the open tender process to begin\u00a0<strong>in the third quarter<\/strong>\u00a0of this year, with\u00a0<strong>licences to be issued in the fourth quarter<\/strong>\u00a0in preparation for a new 10-year licence period from the beginning of 2023.<\/p>\n\n\n\n<p>Sands China said: &#8220;The extension of VML\u2019s subconcession is subject to approval by the Macau government as well as entering into a sub-concession amendment contract with Galaxy.&#8221;<\/p>\n\n\n\n<p><strong>See also:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-satellite-casinos-three-year-grace-period-could-be-extended\" rel=\"noreferrer noopener\">Macau Satellite casinos: three-year grace period could be extended<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Through its latest financial report, Sands China has revealed it has been asked to pay MOP47m (US$6m) for the six-month extension of its current concession.<\/p>\n","protected":false},"author":176,"featured_media":22443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sands China's subsidiary, Venetian Macau Ltd, has been requested to pay MOP47m (US$6m) and provide a MOP1.6bn bank guarantee for a six-month extension of its Macau casino concession until December 31. This interim measure addresses delays in Macau's gaming legislation and the subsequent tender process for new 10-year licenses, expected to commence in Q3 2022.","focusai_entities":"Sands China, Venetian Macau Ltd, Galaxy, JPMorgan Securities, Macau government","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.9), compliance_legal (0.85), operator_casino (0.95), investor_analyst (0.95), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Concession Tender Impact?","query":"What are the anticipated changes in the new Macau gaming legislation that could influence the competitive landscape and operational requirements for the upcoming 10-year concession tender process?"},{"label":"Financial Guarantee Implications?","query":"How does the MOP1.6bn bank guarantee requirement for potential employee dismissals impact Sands China's capital structure and liquidity management in the short to medium term?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906,21680],"class_list":["post-28451","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-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28451","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=28451"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28451\/revisions"}],"predecessor-version":[{"id":28469,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/28451\/revisions\/28469"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/22443"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=28451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=28451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=28451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}