A re-tendering of Macau casino concessions will see the number of licenses granted limited to six with a concession length of 10 years (with a possible extension of three years under exceptional circumstances), the government announced Friday at a late afternoon press conference attended by IAG. It was also announced that all existing or potential concessionaires will have to proceed through a new tender process to be awarded a concession, and that the concept of sub-concessions will be discontinued.
The news suggests Macau’s six current concessionaires are well positioned to be granted new licenses once the upcoming re-tendering process is complete. It remains unclear whether re-tendering will take place before 26 June 2022 or if the current concessions, due to expire on that date, will be extended.
Instead, government representatives Cheong Weng Chon, Secretary of Administration and Justice, Ku Mei Leng, Chief of Staff for the Office of the Secretary for Economy and Finance and Ian I Lin, Advisor to the Office of the Secretary for Economy and Finance, said the current licenses would be extended for only a “short term” if re-tendering cannot be completed in time.
Cheong, Ku and Ian did confirm some other details around amendments to Macau’s gaming law, including a minimum capital requirement for concessionaires of MOP$5 billion (formerly MOP$200 million) and a requirement for a Macau-based Managing Director to hold a 15% interest in the company (formerly 10%).
A proposal to appoint a government representative to the Board of Directors of each concessionaire will not be implemented.
It was revealed that the Executive Council has now concluded discussion on amendments to Macau’s gaming law 16/2001 with the new framework to be sent to the Legislative Assembly for consideration today, 14 January 2022.
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