The government of Macau recently awarded provisional concessions to six operators, including Galaxy Entertainment Group, Las Vegas Sands, MGM Resorts International, Melco Resorts, SJM Resorts, and Wynn Resorts. Genting Malaysia applied for a concession but was not chosen. The newly signed concessions will be effective from January 1, 2023, to December 31, 2032.
Lawrence Ho, chairman and CEO of Melco, expressed gratitude for being awarded the ten-year gaming concession and pledged the company’s commitment to supporting the tourism and leisure industry in Macau. Wynn Resorts also expressed confidence in the Macau casino market and announced the renewal of its gaming concession for ten years. Robert Goldstein, chairman and CEO of Las Vegas Sands, reiterated the operator’s positive outlook and commitment to contributing to Macau’s development and success.
SJM Resorts and Melco also announced plans for new investments in Macau as part of the tender process. SJM Resorts will invest MOP14.03bn in the region, with a significant portion allocated to non-gaming and tourism affairs. Melco, on the other hand, will now be authorized to operate various casinos and clubs in Macau and has promised an investment of MOP11.82bn.
The new concessions are part of a broader gambling overhaul in Macau, which includes a new gaming bill that became law in 2021. The bill eliminates subconcessions and introduces rules for the maximum number of gaming tables or machines allowed in a casino. Despite initial considerations for expanding the number of concessions, the decision was made to maintain the existing six operators.
