Macau SLOT Co. Ltd. (Macau SLOT) has lost its monopoly on the city’s football and basketball betting markets, according to an official gazette published yesterday.
The official document stipulated that Macau SLOT has been granted by the government a renewal in its concession contract for three years, lasting from June 6, 2021, to June 5, 2024.
However, the firm’s concession to operate the sports lottery will be on a “non-exclusive basis,” the statement emphasized.
This amendment means that the 32-year-old Macau SLOT is no longer able to monopolize the sports betting markets. It also foreshadows that there may be other players intending to occupy a slice of the market.
The gazette also stated that Macau SLOT is allowed to operate other types of lotteries after seeking the approval of the Gaming Inspection and Coordination Bureau (DICJ).
Macau SLOT was founded in 1989 under the city’s late gaming mogul Stanley Ho’s Sociedade de Turismo e Diversões de Macau, S.A.R.L. (STDM) gambling empire.
According to the DICJ’s current statistics, the city registered a betting amount of MOP 949 million in football bettings and MOP 776 million in basketball bettings in the first quarter of this year, which represented an increase of 12.3% and 21.1% year-on-year, respectively.