The Macau government will hold press conference at 11am on Saturday to provide an update on the public tender for new 10-year gaming concessions. It is expected that the government will announce the provisional list of the six successful concessionaires.
Macau’s public tender was opened on 16 September with TDM Portuguese Radio reporting earlier this week that the tender committee had completed all meetings with the seven tenderers and had reviewed their final proposals.
The seven bidding companies include the six current concessionaires – Wynn Resorts (Macau) S. A., Venetian Macau S. A., Melco Resorts (Macau) S. A., MGM Grand Paradise S. A., Galaxy Casino S. A. and SJM Resorts S.A. – plus an external seventh bidder in GMM S. A, an indirect subsidiary of Genting Malaysia.
Under Macau’s new gaming law, tenderers who are granted a provisional concession will be required to submit information to the Gaming Inspection and Coordination Bureau (DICJ) around its minimum capital requirement of MOP$5 billion (US$625 million).
The new 10-year concessions will officially commence from 1 January 2023.
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