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.


Asia News Sponsor
Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...