Six incumbent gaming operators retain concessions
The six incumbent operators will retain their concessions and will be awarded a 10-year license, the government committee for the gaming concessions public tender announced this morning (Saturday).
The companies that submitted bids by September 14 were Wynn Resorts (Macau) Limited, Venetian Macau Limited, Melco Resorts (Macau) Limited, SJM Resorts Limited, MGM Grand Paradise Limited, Galaxy Casino Company Limited, and GMM Limited.
The latter was a new competitor who had not secured a license.
After several rounds of negotiations with the bidders, the committee noted that the incumbent six operators have met the requirements of the SAR government in ensuring local employment, boosting foreign tourist source markets, and developing non-gaming projects.
According to the committee, the contracts will be awarded before the end of the year.
The list of six provisional winners of the concessions was revealed in an executive order by the Chief Executive, published Saturday in the Official Gazette:
- MGM Grand Paradise Limited;
- Galaxy Casino Company Limited;
- Venetian Macau Limited;
- Melco Resorts (Macau) Limited;
- Wynn Resorts (Macau) Limited;
- SJM Resorts, Limited.
At a press conference Saturday morning, the chairman of the committee, Secretary for Administration and Justice Andre Cheong confirmed that the list was ordered by the score attributed by the committee to each company. MGM’s bid received the highest score while SJM had the lowest score among the successful bidders.
Cheong didn’t disclose how each company actually scored nor the committee’s evaluating criteria.
“Every party was aware of the gameplay, and they all accepted it,” he said. “The committee has also undertaken multiple rounds of negotiations with the bidders for them to perfect their bid.”
It was either go big or go home for the seven hopeful bidders who submitted their gaming proposals to the government on September 14.
All proposals were submitted in medium to large cardboard boxes on pallets and labeled as original documents, along with copies.
In the city’s biggest overhaul of the gaming law, the government has required bidders to submit proposals on future work that will be undertaken in the area of corporate social responsibility for them to be awarded a license. It can be understood that the government is relying on bidders for suggestions on corporate social responsibility.
Casino operators must maintain MOP5 billion in cash during the 10-year license period. MDT
