Macau’s incumbent operators win as Malaysian tycoon fails to make the cut for city’s 6 casino licences
- The six licences will run from January 1, 2023 through December 31, 2033, according to a statement by the territory’s government
- A minimum annual gross income from each gaming table is set at 7 million patacas, while the figure for each gaming machine is 300,000 patacas
Macau’s government has renewed the concession periods of the city’s six incumbent gambling concessionaires for another 10 years, rejecting the Malaysian tycoon Lim Kok Thay’s surprise bid break into the world’s largest casino hub.
MGM Grand Paradise Limited, Galaxy Casino Company, Venetian Macau, Melco Resorts Macau, Wynn Resorts Macau and SJM Resorts were awarded the six concessions, starting from January 1, 2023 through December 31, 2033, according to a statement by the territory’s government.
“It would seem that Macau prefers the status quo to change, and potential new opportunities,” said Ben Lee, managing partner at IGamiX Management & Consulting in Macau. “Our speculation is that employment continuity is probably the main over riding consideration.”
The licences were awarded on “the social responsibilities on the tender documents [that] ensured stable opportunities in Macau,” said Andre Cheong Weng-chon, the president of the Macau Commission for Gaming, during a televised press conference. “We also considered the bidders’ previous experience in local gaming and non-gaming businesses. Did they have a successful experience or track record?”
