Gov’t accepts GMM’s bid for gaming license
The gaming tender commission has accepted GMM’s bid for a 10-year-casino license. As cited in a TDM report, all seven contenders were notified of the decision on November 15, including the Genting Group-owned company. Following the submission of bids last month, the commission stated that GMM Limited’s submission was conditionally accepted. In the largest gaming law overhaul yet, casino operators must have MOP5 billion in cash at all times during the 10-year license period. Incumbent operators have paid up to MOP47 million for their licenses to be extended to December 31, following the delays of the finalization of the new gaming law and with their contracts expiring on June 26.
Classes suspended due to T3
Classes of secondary, primary and special education were suspended yesterday due to Typhoon Signal No. 3, which has been hoisted since 4:30 p.m. Monday. The Meteorological and Geophysics Bureau (SMG) canceled the signal at 11 p.m. last night. SMG expected that from tonight the city will be mainly affected by the northeast monsoon. On the other hand, it is expected that the cool and rainy weather will continue until tomorrow.
AMCM warns of illegal insurance mediations
The Monetary Authority of Macao (AMCM) has issued a note alerting the public to the illegal activities of insurance mediation by three different companies. According to the department, the companies “Unimall International Group Company (Macao), Limited,” “Zong Yang International Consulting (Macao) Limited” and ”،#+ب٠ي؛غ٦٠٩خ!]؟D*ڈ!^&٣–$=٪q” have never been authorized to perform insurance mediation activities in Macau. The money authority calls on the public to not purchase insurance products and services from illegal insurance companies or intermediaries to avoid falling victim to fraud and suffering losses.
