Wynn submits bid for 10-year casino licenses
Gaming operator, Wynn Macau, submitted its tender to the government for a 10-year casino concession yesterday, one day ahead of the deadline.
The gaming operator stated, “Wynn Resorts (Macau), a wholly-owned subsidiary, submitted a tender to the Macau government on 13 September 2022 for the award of a 10-year gaming contract allowing it to operate casino gaming in Macau from 1 January 2023.”
Hoping to acquire a license under the name of Wynn Resorts (Macau) S. A., the group is the first to publicly confirm it has submitted its bid.
In a photo shared online by Macao Daily News, two large boxes could be seen in which the operator submitted its proposals– labeled as original documents and photocopies.
The other gaming operators are expected to submit their proposals today, along with a deposit of at least MOP10 million, at the Gaming Inspection and Coordination Bureau (DICJ).
In the largest gaming law overhaul yet, casino operators must have MOP5 billion in cash at all times during the 10-year license period.
All 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.
The extension payment comes amid casinos losing money daily due to the turmoil arising from the pandemic.
