Paradise Entertainment interested in gaming concession

Jay Chun, chairman of Paradise Entertainment Ltd.

The Paradise Entertainment Group has expressed interest in applying for a gaming concession, according to a report by Inside Asian Gaming.

The city’s 20-year gaming concessions will all come to an end in 2022 with two of them (SJM and MGM) expiring in 2020.

Earlier, in May, Paulo Martins Chan, director of the Gaming Inspection and Coordination Bureau (DICJ), said that the Macau gaming concessions will be re-auctioned, and that requirements for the new licenses are likely to be announced soon by the government.

However, Chan opted not to divulge a date for the release of this information.

Chief Executive Chui Sai On mentioned last year that there will be new information released this year regarding the future of the gaming licenses. 

According to the Inside Asian Gaming report Paradise Entertainment’s Investor Relations Manager, Bob Shen noted that the company has not yet made a final decision regarding whether or not to apply for a casino license.

Such decisions will only be made after the Macau government announces details about the concessions.

Shen remarked that his company is looking forward to seeing the Macau government granting a license to the company to strengthen competition in Macau.

Paradise Entertainment provides gaming management services to four Macau gaming venues: Casino Kam Pek Paradise, Casino Macau Jockey Club (SJM Holdings Ltd-licensed), Casino Waldo (Galaxy Entertainment Group Ltd-licensed), and an electronic gaming hall at Casino Lisboa.

In addition to hoping for a casino license, the company is also seeking opportunities to expand its business outside Macau.

Macau businessman David Chow had said, in May, that the government should consider granting another two gaming concessions to benefit Macau’s overall development.