Macau’s long-time monopoly sports betting provider, Macau Slot Co Ltd, has had its concession renewed for three years but will no longer enjoy exclusivity in what shapes as a significant policy shift in the segment.
According to a notice in the Official Gazette this week, Macau SLOT’s betting concession, which expired on 5 June 2021, has been renewed for three years until 5 June 2024.
However, the exclusive license the company has held for instant lottery, football and basketball no longer applies with the Official Gazette stating that Macau SLOT’s concession extension is now on a non-exclusive basis.
The addition of a non-exclusivity clause into Macau SLOT’s concession is significant given its long history as the monopoly sports betting operator in the SAR.
The company was granted Macau’s only franchise to accept betting on football in 1998, adding basketball two years later. In 2002, when the Macau SAR Government was handing out concessions to casino operators, Macau Slot became the holder of Macau’s only sports betting concession – a concession it has held until now. It previously had its exclusive license extended in 2016 for five years.
Macau SLOT’s new three-year concession also contains a clause stipulating that the concession can be terminated at any time by order of the Chief Executive should it be unable to retain its workforce, specifically local workers.
An option to “organize and operate other forms of lotteries or mutual betting” pending DICJ approval remains in place.
Macau Slot last year reported a profit of MOP$154.8 million (US$19.3 million) in FY2019, down 30% on 2018.
RelatedPosts
