The Economic climate and Finance Secretary for Macau, Lionel Leong Vai Tac (pictured), has apparently exposed that local authorities are presently preparing the groundwork for a public tender that’s to determine that will be enabled to run gambling establishments in the city following the expiry of its present 6 concessions in 2022.
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Inning accordance with a record from GGRAsia, Leong made the disclosure throughout a Saturday occasion almost a month after the enclave’s Chief Exec, Fernando Chui Sai On, detailed that there’s no need for legislators to delay the introduce of such a procedure.
Chui apparently previously specified that Macau ‘has sufficient problems to introduce a public tender’ and would certainly have the ability to do so after carrying out ‘some interior work and amendments to current regulations.’ Regarding these modifications, he particularly mentioned Management Policy 26/2001, which sets out the terms for such tenders, together with the video pc gaming structures enumerated in the jurisdiction’s Legislation 16/2001.
‘Big six’ drivers:
GGRAsia reported that the previous Portuguese territory recently extended by an additional 2 years the casino licenses held by drivers MGM China Holdings Limited and SJM Holdings Limited. This move means that of the enclave’s ‘big six’ gambling companies, which also consist of Melco Hotels and Entertainment Limited and Galaxy Entertainment Team Limited as well as the local Sands China Limited and Wynn Macau Limited subordinates of Las Las vega Sands Company and Wynn Hotels Limited specifically, are currently because of see their licenses expire on June 26, 2022.
Beneficial expansions:
Leong apparently stated that these current expansions will ‘benefit the prep work for the general public tender’ and permit the federal government of Macau to conduct the process in ‘an organized manner and avoiding any carelessness.’ He moreover hinted that any new licenses could feature specific language that would certainly require concessionaires to increase their non-gaming aspects and present improved social safeguards for their workers.
