{"id":30781,"date":"2022-06-15T02:28:23","date_gmt":"2022-06-15T05:28:23","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=30781"},"modified":"2026-04-23T07:47:31","modified_gmt":"2026-04-23T10:47:31","slug":"macau-casino-contract-extensions-to-be-signed-on-june-23","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-casino-contract-extensions-to-be-signed-on-june-23","title":{"rendered":"Macau casino contract extensions to be signed on June 23"},"content":{"rendered":"\n<p>Authorities in Macau will make the extension of existing casino tenders official next week.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- The government of Macau has announced that it will sign off on six-month extensions of the city&#8217;s casino concessions on June 23. The announcement was made by <strong>Lei Wai Nong<\/strong>, Macau&#8217;s secretary for economy and finance.<\/p>\n\n\n\n<p>Macau announced back in March that it would <a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-casino-licences-to-be-extended-to-december-31-2022\">extend the six current casino concessions<\/a>, which were due to expire this month, because of a delay in holding a retender while it works on new gaming legislation <\/p>\n\n\n\n<p>In order to be able to apply for an extension,\u00a0<strong>the government asked casino operators to pay MOP47m (US$6m)\u00a0<\/strong>and to provide a bank guarantee reaching up to MOP1.6bn to cover possible employee dismissals.<\/p>\n\n\n\n<p>One of the first casinos to request an extension of its licence was\u00a0<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/sands-china-charged-us6m-for-six-month-licence-extension-in-macau\" target=\"_blank\">Sands China<\/a>. It was followed by the rest of the companies.<\/p>\n\n\n\n<p>Legislator <strong>Chan Chak Mo\u00a0<\/strong>has recently revealed that the second standing committee will sign its final draft <a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/vote-on-macaus-gaming-law-amendment-bill-could-take-place-on-june-21\" target=\"_blank\">proposed new general gambling law<\/a>\u00a0today (June 15). After that, the Legislative Assembly will hold a plenary meeting, likely on June 21, to vote on the changes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Authorities in Macau will make the extension of existing casino tenders official next week.<\/p>\n","protected":false},"author":176,"featured_media":26697,"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 authorities are set to officially extend the city's six casino concessions by six months on June 23, necessitated by delays in new gaming legislation and the retendering process. Operators, including Sands China, were required to pay MOP47m and provide a MOP1.6bn bank guarantee for employee dismissals to secure the extension. This precedes a Legislative Assembly vote on the new general gambling law, expected around June 21.","focusai_entities":"Sands China, Lei Wai Nong, Chan Chak Mo, Legislative Assembly","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.9), regulator (0.95), compliance_legal (0.9), operator_casino (1.0), investor_analyst (0.9), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Concession Renewal Impact","query":"What are the specific implications of the MOP1.6bn bank guarantee requirement on the liquidity and capital allocation strategies of Macau's concessionaires, particularly in the context of ongoing market recovery?"},{"label":"New Legislation Timeline","query":"How might the anticipated timeline for the finalization and implementation of Macau's new general gambling law influence the strategic planning and investment decisions of incumbent operators and potential new market entrants?"}],"footnotes":""},"categories":[16338,156,158],"tags":[23911,23906],"class_list":["post-30781","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\/30781","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=30781"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30781\/revisions"}],"predecessor-version":[{"id":30819,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/30781\/revisions\/30819"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26697"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=30781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=30781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=30781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}