7 operators vie for 6 Macau casino licences as bids open in the world’s gambling hub
- The seven companies comprised all six existing casino operators, plus a wild card bid by GMM Limited
- GMM’s administrator is Lim Kok Thay, according to Macau’s Commercial Registry Office, the same name as the Malaysian casino magnate
Seven companies conducted a beauty parade before Macau’s authorities in a closely watched contest for the right to operate half a dozen casino licences in the world’s largest gambling hub.
The bids were presented to the Committee for Gaming Concessions Public Tender in Macau at China Plaza in the territory, overseen by the Economy and Finance secretary Lei Wai Nong, and Secretary for Administration and Justice Andre Cheong. All seven companies were accepted for bidding, the government said in an announcement on Friday evening.
“The bid opening process is carried out in accordance with the requirements of the law and the tender submission documents,” Cheong said on the city’s public broadcaster Teledifusao de Macau (TDM).
“After the bids are opened, we will consult and discuss with the accepted companies participating in the bidding and review the contents of the tender submissions.”
The beauty parade was the culmination of years of work by Macau’s government to reform betting in the world’s gambling capital, as it continues to navigate a fine balance between a fiscal reliance on casino taxes, and Beijing’s push to diversify the city’s economy from betting.
