• About Us
  • The Team
  • Advertise with Us

The latest news on the gaming industry in Asia

() () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () () ()
  • Home
  • Macau
  • Philippines
  • Singapore
  • Japan
  • Rest of Asia
  • World
  • Industry Talk
  • Trends & Tech
  • iGaming
  • follow
    • Facebook
    • Twitter
    • RSS Feed
    • LinkedIn

Genting misses Macau licence, six incumbents carry on

Nov 25, 2022 Newsdesk Latest News, Macau, Top of the deck  


Genting misses Macau licence, six incumbents carry on

The commission overseeing Macau’s public tender to award new 10-year casino concessions announced this morning (Saturday, November 26) the list of “provisional winners”. Macau’s six incumbent casino concessionaires saw their respective proposals selected by the commission.

A proposal by a Macau-registered entity linked to Genting Malaysia Bhd, GMM Ltd, was not among the preferred bids, stated the commission in a press briefing (pictured).

An executive order awarding the “provisional licences” and signed by the city’s Chief Executive, Ho Iat Seng, was published in Macau’s Official Gazette on Saturday.

The executive order stated that the proposals presented by units of respectively MGM China Holdings Ltd, Galaxy Entertainment Group Ltd, Sands China Ltd, Melco Resorts and Entertainment Ltd, Wynn Macau Ltd and SJM Holdings Ltd were “the most advantageous” for the Macau Special Administrative Region.

During Saturday’s press conference, the Macau government – represented by the city’s Secretary for Administration and Justice André Cheong Weng Chon; the Secretary for Economy and Finance Lei Wai Nong; and the Secretary for Social Affairs and Culture, Elsie Ao Ieong U – reiterated it hopes the new concessions can begin in January.

Mr Cheong stated that MGM China’s proposal received the highest score from the commission overseeing Macau’s public tender to grant new casino concessions. Among the companies receiving a provisional licence, SJM Holdings’ proposal received the lowest score.

Galaxy Entertainment’s proposal was ranked second, followed by Sands China, Melco Resorts and Wynn Macau. Mr Cheong did not disclose the actual score given to each proposal.

Mr Cheong said during the press conference it was “not appropriate” yet to disclose the investment pledged by each company as part of their respective proposal for a gaming licence. He added it was also not the right time to disclose the non-gaming activities each company planned to develop in Macau as part of their respective bids.

Credit Suisse AG had said in an October note that a new generation of Macau casino concessionaires might each have to spend between HKD10 billion (US$1.27 billion) and HKD20 billion across 10 years.

In a press release also issued on Saturday, the Macau government stated that each of the six firms granted a “provisional” licence met the requirements set by the local authorities regarding “safeguarding” the employment of Macau ID holders, presenting plans to expand the source markets to “customers from foreign countries”, and for developing projects related to non-gaming activities.

Mr Cheong admitted that non-gaming activities proposed by the bidders had received the highest weighting in the evaluation of the tender proposals. He did not provide an actual percentage for the weight of each criterion.

Asked if Genting could still partner with any of the six companies granted a casino licence, Mr Cheong declined to answer, stating that was an “hypothetical” question. He added that any potential partnership would need to comply with the relevant legislation in Macau.

He stated that the Macau government expected a “smooth” transition between the expiry of the existing licences and the implementation of the new ones. Mr Cheong said the related legal proceedings for granting the new licences should all be completed in December.

Genting Malaysia has a casino monopoly in its home market via the Resorts World Genting complex, and also runs casinos in the United States, the Bahamas, the United Kingdom and Egypt. The Genting group also operates a casino resort in Singapore, via Genting Singapore Ltd.

Macau is one of the major gaming jurisdictions where the Genting companies do not have a presence. The group had also made a submission in the Macau concession tender that took place at the turn of the current century, but was not selected.

Investment analysts and industry observers had previously stated that they did not expect the Genting group to displace a current veteran of the Macau market in the ongoing public tender process.

Following the opening of the proposals in mid-September and a few rounds of negotiation, Macau tender bidders were told to up their spending proposals, specifically related to non-gaming investment.


  • tweet
Related articles
  • Mainland tour groups to Macau to resume Feb 6: govt
    Mainland tour groups to Macau to resume...

    Feb 03, 2023  

  • LVS amends US$1.5bln loan facility, dividends restricted
    LVS amends US$1.5bln loan facility,...

    Feb 01, 2023  

More news
  • LVS ranked by S&P as most sustainable casino sector firm
    LVS ranked by S&P as most...

    Feb 08, 2023  

  • Crane aims to complete split into 2 listed entities by April 3
    Crane aims to complete split into 2...

    Feb 08, 2023  


Latest News

LVS ranked by S&P as most sustainable casino sector firm

LVS ranked by S&P as most sustainable casino sector firm

Feb 08, 2023  

International casino operator Las Vegas Sands Corp has been ranked as the most sustainable firm in the global casino sector, according to the 2023 edition of the S&P Global Sustainability...
Read More
Crane aims to complete split into 2 listed entities by April 3

Crane aims to complete split into 2 listed entities by...

Feb 08, 2023  

Macau mulls subsidy of up to US$62 per overseas visitor

Macau mulls subsidy of up to US$62 per overseas visitor

Feb 07, 2023  

Sign up to our FREE Newsletter

UB8V5.qr.16(Click here for more)

Pick of the Day

"The company will scrutinise the [26 Capital] lawsuit and properly deal with it"

Universal Entertainment

Japanese firm that controls the Okada Manila casino resort in the Philippines



Most Popular

  • Macau early Feb average daily GGR higher than Jan: JPMMacau early Feb average daily GGR higher than Jan: JPM February 6, 2023
  • Macau mulls subsidy of up to US$62 per overseas visitorMacau mulls subsidy of up to US$62 per overseas visitor February 7, 2023
  • Ex-junket boss Levo Chan aimed to go to Taiwan: policeEx-junket boss Levo Chan aimed to go to Taiwan: police February 7, 2023
  • SPAC partner in Okada Manila listing sues Universal Ent sideSPAC partner in Okada Manila listing sues Universal Ent side February 7, 2023
Copyright 2014-2023 TEAM Publishing and Consultancy Ltd / All rights reserved
  • Code of Ethics
  • Privacy Policy
  • Useful Links
  • Contact Us