Seven firms have submitted proposals in pursuit of Macau’s six casino licenses up for grabs. The body supervising the public bidding process verified that submissions from the existing six operators, alongside a fresh contender, GMM – a branch of Malaysia’s Genting Group – have all been greenlit. This sets the stage for a conclusive judgment on which entities will secure the licenses, slated to commence on January 1, 2023, and valid for a ten-year period.
Presently, Macau’s casino arena consists of three concession holders: SJM Holdings, Galaxy Entertainment, and Wynn Macau. Furthermore, there are three sub-concession holders: MGM China, Sands China, and Melco Resorts. Nevertheless, the updated gaming regulations abolish the sub-concession framework and permit a ceiling of six licenses to be allocated via open tender.
Although GMM’s proposal has received provisional acceptance, the committee has yet to reveal the precise stipulations that GMM must satisfy for ultimate authorization.
During the month of July, Macau’s administration established a group to supervise the tender procedure for fresh gaming permits. This assembly, comprising nine individuals and led by notable personalities such as Cheong Weng Chon, Lei Wai Nong, and Ao Ieong U, is a strong indication that Macau is approaching the matter with great gravity.
Although the precise timing for awarding the new licenses remains uncertain, industry insiders anticipate their issuance before the year’s conclusion.
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