Macao’s six gaming operators – and the seventh outside bidder – will be on tenterhooks over the next few weeks as the Gaming Concession Public Tender Committee weighs up their competing tenders which were unsealed last Friday.
Seven companies submitted bids for the granting of up to six gaming concessions before the public tender’s submission deadline on Wednesday last week. The newcomer is GMM Limited, which is linked to Malaysia’s Genting Group.
The six new concessions, which are slated to start operating on 1 January next year, will run for 10 years.
Currently, Macao’s gaming industry comprises three concessions (SJM Resorts Limited, Galaxy Casino Company Limited, and Wynn Resorts (Macau)) and three sub-concessions (MGM Grand Paradise Limited, Venetian Macau Limited, and Melco Resorts (Macau) Limited). The three concessionaires sold one sub-concession each.
Macao’s new gaming industry law, which was promulgated earlier this year, expressly bans the granting of sub-concessions.
The new gaming law stipulates that the…
