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Macau redrafts gambling license proposal

This could go far in the preparation of the bidding process for existing concessions. Leong told Macau-based reporters, “We’ve said before that the awarding of the gaming concession contracts [when the current ones expire] will have to be done via a bidding process, and the related law needs to be amended as well [in preparation for a new tender]. We are now having an internal study on it [the preliminary proposal].” He didnot specify the details of the proposal, but stated that the government will “listen to social opinions and analyse them” throughout the rebid process. There are currently six licenses issued to operators in the gambling hub, and they all expire in either 2020 or in 2022. The first to expire will be those of MGM China and SJM Holdings. According to law, the licenses can be extended up to five years past their original expiry dates. However, once the contract ends, any new concession can only be approved through a public tender. Because of this, gaming lawyers have argued that there is no true “concession renewal” in Macau. Last week, Ambrose So Shu Fai, vice-chairman and CEO for SJM Holdings, told reporters that the company hopes to receive a two-year extension when its current license expires.

For the original version including any supplementary images or video, visit https://europeangaming.eu/portal/compliance-updates/2018/07/25/24661/macau-redrafts-gambling-license-proposal/

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