GGRAsia – Macau ops to sign 6mth contract rollover June 23: report

Macau ops to sign 6mth contract rollover June 23: report

Jun 14, 2022 Newsdesk Latest News, Macau, Top of the deck

The Portuguese-language radio service of Macau public broadcaster TDM reported on Tuesday – citing its own unnamed sources – that contracts would be signed with the Macau government on June 23 to extend, until December 31, the current concessions or sub-concessions of the six Macau casino operators.

They had been due to expire on June 26, but the city’s government had invited the operators to apply to extend them until the end of the calendar year, as the Macau authorities work to prepare a fresh public tender process.

By mid-March, all the operators had confirmed they had made such an application. The government asked for for certain guarantees in return for the six-month extension of the existing contracts.

Some of the city’s casino operators have confirmed in recent months that they have committed to pay the Macau government up to MOP47 million (about US$6 million) in return for their Macau gaming licence being extended to December 31 this year.

These firms also committed to a bank guarantee to cover payment obligations towards the employees if its concession-holding entity, should the group fail to gain a new concession contract after December 31.

GGRAsia approached the Office of the Secretary for Economy and Finance for comment on the rollover to December 31. It referred the enquiry to the city’s casino regulator, the Gaming Inspection and Coordination Bureau, a body also known as DICJ.

The gaming bureau stated: “Regarding the matters related to the six casino operators’ contract extension, the Macau Special Administrative Region government has been handling the related works, and will announce to the public [the result] in due course.”

(Updated, 10am, June 15)