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Macau Extends Casino Concessions Till 31st December 2022

Six casino operators in Macau will now have their concession (license) extended from the initial expiry date of 26th June 2022 to 31st December 2022. The announcement was made by Lei Wai Nong, Macau’s Secretary for Economy and Finance.

After presenting to the Second Standing Committee of the Legislative Assembly (AL) on Thursday, Lei spoke to the media to make the announcement. He stated that the government was confident that it would complete the gaming law amendment process before 26th June and start the tendering process after that. Lei also stated, “We have notified the gaming operators to prepare for the extension application.”

As per news reports, the draft gaming bill is currently before the AL where proposed amendments to the gaming law are being debated. Today was the first instance where Secretary Lei and other government representatives participated in the AL’s Second Standing Committee discussions. “We still have time, and we will have a couple more meetings with the Second Standing Committee,” Lei said.

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ALSO READ: Macau Limits Casino Licences To Six With 10-Year Operating Period

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With regards to questions on whether the SAR (special administrative region) government would extend the licenses after December 2022 if the legislative or tendering process were delayed, Lei chose not to comment. 

According to news reports, it would seem that the government is hopeful about completing the entire re-tendering process by the end of 2022. This process also includes determining the winner bidders and signing new concession contracts with these winning bidders.

A public tender will be held once the revised gaming bill is passed. Only a maximum of six concessions will be awarded. It is widely speculated that the six current concession holders are likely to win the new 10-year concession, which is the maximum period allowed under the draft gaming law.

For more news and updates, keep reading Gutshot Magazine. If you’re on social media, be sure to follow us on Facebook, Instagram, Twitter, and Telegram.

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