Published
Land-BasedCasinoLegal & RegulatoryIndustry

Macau rejects Genting's licence proposal in favour of keeping the big six

Genting has missed out on one of Macau’s new concession licences following the announcement that all six of the province’s current operators retained the right to offer gambling in the region.

Genting
Listen To Article

Sands China, Galaxy Entertainment, MGM China, Wynn Macau, Melco Resorts and SJM Holdings are all breathing a sigh of relief at the award of the new licences – because if any had failed with their bids for the decade-long extensions, then the companies would have had to give the casino area back to the Government for free at the end of the year.

However, Genting, which came in with a surprise bid for one of the new licences has missed out.

The Malaysian businesses’ bid was always unlikely to be successful ahead of the six operators already in Macau – but, should it have been successful, it would have represented a significant overhaul in the province’s power structure.

The Chinese Government is understood to be looking at ways that Macau can move away from the heavy gambling focus that it currently has – something that Macau’s Secretary for Economy and Finance commented on recently.

Lei Wai Nong said: “In the next 10 years, the non-gaming elements should form another sector of Macau’s economic development, so the non-gaming element and the gaming element should become two important economic pillars of Macau in the future.”

Now that the current operators in the province know the next decade is set, the question turns to whether or not Macau will recover from the pandemic under China’s zero-Covid policy – which has caused riots on the mainland.

Industry News Sponsor
Premium+ Connections
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Executive Profiles
Interblock
Caesars Entertainment
Pragmatic Play
Flutter Entertainment

Global Gaming Awards London: Who will win Executive of the year 2023?

Gambling Insider takes a look at the nominations list for 20...

CEO Special: Flutter International CEO Dan Taylor returning to roots

Flutter International CEO Dan Taylor meets Louis Thompsett t...

CEO Special: Light & Wonder Gaming CEO Siobhan Lane - optimising superpowers

Siobhan Lane, Light & Wonder Gaming CEO, speaks to Gambling...

CEO Special: Hoiana Resorts' Steve Wolstenholme – the travel man

Hoiana President & CEO Steve Wolstenholme talks to Gambling...

Read Magazine