GMM Limited<\/strong>, the only bidder not already operating casinos in Macau had been “conditional accepted” while the others were accepted without mention of any condition.<\/p>\n\n\n\nBids may be accepted conditionally if documents are submitted without non-essential formalities, or if the bidder has failed to submit the required documents due to justified circumstances beyond its control.<\/p>\n\n\n\n
These may include documents issued by the Financial Services Authority certifying that neither the bidder nor its group, major partners, directors or shareholders holding at least 5 per cent of its share capital had tax or social security debts in Macau over the past five years. Other possible documents could be the risk assessment report concerning the bidders controlling partner, directors or major shareholders.<\/p>\n\n\n\n
Such violations must be remedied “within the period specified by the Awards Committee for this purpose” or the admission will expire.<\/p>\n\n\n\n
GMM unlikely to win Macau gaming concession, analysts say<\/h2>\n\n\n\n
Few people expect Macau to grant a licence to GMM Limited. Alidad Tash<\/strong>, a Macau-based gaming analyst, told Macau News Agency: \u201cWhy would any of the current six be let go? They\u2019ve got everything the government has asked them to do: they have properties, they have employees, and they have 20 years of history.\u201d<\/p>\n\n\n\nBrokerage JP Morgan<\/strong> stressed: \u201cIt is unlikely for a government to choose a new foreign operator over incumbents, who have invested billions of dollars and employed local staff over two decades, including in an unprecedented downturn like this.\u201d<\/p>\n\n\n\nHowever, Ben Lee<\/strong>, managing director of IGamiX Management & Consulting, thinks GMM has \u201ca fairly good chance\u201d of winning a concession.<\/p>\n\n\n\nAccording to Lee \u201cGenting has is its experience and willingness to invest in theme parks. Macau has talked that up in the past, and all the existing six operators \u2013 despite Galaxy Entertainment Group talking about it \u2013 walked away from the idea.<\/p>\n\n\n\n
Brokerage Nomura<\/strong> agreed, saying GGM could design a resort that would address the government\u2019s priorities as opposed to the incumbents who have already developed resorts that were geared to the VIP-heavy days of the past.<\/p>\n","protected":false},"excerpt":{"rendered":"Bids from Macau’s current six casino operators have been accepted without mention of any condition.<\/p>\n","protected":false},"author":176,"featured_media":21791,"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's gaming concession retender committee has accepted seven bids, with the six incumbent operators' submissions accepted unconditionally. GMM Limited, the sole new entrant, received conditional acceptance, pending remediation of non-essential formalities or required documentation. Industry analysts offer divergent views on GMM's viability, weighing incumbents' substantial capital investment and operational history against GMM's potential alignment with government diversification priorities through non-gaming development.","focusai_entities":"GMM Limited, JP Morgan, IGamiX Management & Consulting, Galaxy Entertainment Group, Nomura, Alidad Tash, Ben Lee, Financial Services Authority, Awards Committee","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":"GMM's Concession Prospects?","query":"What specific non-gaming investment commitments would GMM Limited need to propose to significantly enhance its concession bid against the established incumbents, aligning with Macau's diversification agenda?"},{"label":"Regulatory Compliance Impact?","query":"How might the conditional acceptance of GMM's bid influence the regulatory compliance expectations and due diligence processes for future gaming concession tenders in Macau or other jurisdictions?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23911,23907,23906],"class_list":["post-33584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-gambling-regulation","tag-land-based-casino","tag-macau-casinos"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33584","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=33584"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33584\/revisions"}],"predecessor-version":[{"id":33622,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/33584\/revisions\/33622"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/21791"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=33584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=33584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=33584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}