According to the territory’s CEO Fernando Cui Sai On, gaming concession renewals are being thoroughly studied.
Macau.- Gaming concessions are soon to expire in Macau and their renewal is one of the most analysed topics in the Asian industry. The territory’s CEO Fernando Chui Sai On revealed a few details about the government’s strategy but wasn’t very specific about it.
“In the 2019 Policy Address, I referred that, after the Interim Review (of Gaming Liberalisation for Games of Fortune in Macau) report we have been carrying out studies on the termination of the licenses,” he was quoted saying by AGBrief.
“We have two contracts coming up in 2020 and four contracts in 2022. This way, before these dates we will promote the public tender for the awarding (of gaming licenses). We have been looking at how we can do it best and the works have been initiated. When they are more mature, we will divulge the information,” he added.
The first licence to expire in Macau will be the one that SJM Holdings Ltd holds, in addition to MGM China Holdings Ltd’s, in 2020. Earlier this year, the company’s vice-chairman and chief executive Ambrose So Shu Fai explained that they’ll look forward to getting a two-year extension in order to match its calendar with the other licensees whose permits expire in 2022.