SJM Holdings CEO Ambrose So said on Wednesday there is room for a seventh Macau concessionaire when the re-tendering process opens in the next two years. However, he added that the Chinese and Macau governments must first decide whether adding concessionaires “is good for the future development of Macau.”
Speaking at the launch of the Macau Gaming History Gallery at Hotel Lisboa – a historical exhibit of the city’s unique gaming history – Dr Ambrose So acknowledged that the government had some tough decisions to make in regards to concession renewals but stated “I think so” when asked if a seventh operator should be considered.
Dr So also expressed support for suggestions that the Macau government might extend the concessions of SJM and MGM – which expire in 2020 – through to 2022 to align with the expiration of Sands, Galaxy, Melco and Wynn.
Delaying the starting date of SJM’s re-tender would be “a logical arrangement as everyone wants to start on the same page,” Dr So said. He added that upcoming changes in the structure of the board of directors will aid the company in the re-tendering process. SJM will vote on its new-look board on 12 June with Stanley Ho stepping down as Chairman and his daughter Daisy Ho set to be elected as the new Chairman and Executive Director of the company.
“She will be a good asset, especially when we have these syndicated loans and we move ahead to the tender stage,” Dr So said, lauding the financial expertise of the SJM founder’s daughter.