GGRAsia – All Macau ops confirm asked for rights extension to Dec 31

All Macau ops confirm asked for rights extension to Dec 31

Mar 15, 2022 Newsdesk Latest News, Macau, Top of the deck

Five of Macau’s six casino operators have confirmed to GGRAsia they have already applied to the Macau government for an extension until December 31 of their existing rights, as made feasible by the local authorities as the latter work to prepare a new public tender for Macau gaming permits. A sixth operator had separately confirmed on Saturday that it had made such an application for extension.

The current licences were due to have expired on June 26.

MGM China Holdings Ltd told GGRAsia in an email that the firm had “already submitted the application for the extension of its current gaming sub-concession to the Macau SAR government.” The company did not say when the application was made.

The reference to “sub-concession” is because under the current 20-year regime for Macau rights, MGM China’s permission is actually a sub-concession of SJM Holdings Ltd’s rights.

MGM China added in its email: “MGM will fully support the Macau SAR government to promote the sustainable and healthy development of the Macau gaming industry.”

The other four responding operators – Galaxy Entertainment Group Ltd; Sands China Ltd; SJM Holdings; and Wynn Macau Ltd – all affirmed they had made extension applications, without mentioning when respectively the requests were made.

Lawrence Ho Yau Lung, boss of Melco Resorts and Entertainment Ltd, had in Saturday comments on Macau operations, already said the firm had made its extension submission.

The government has not said when it would announce the formal extension of the licences, nor the financial terms attached to the six-month extension.

It is expected the six Macau operators will each have to pay to the government an amount running into the equivalent of millions of U.S. dollars, for the right to such a licence extension.

(Updated 6.15pm, March 15)