GGRAsia – Wynn submits bid for Macau 10-year gaming licence: filing

Wynn submits bid for Macau 10-year gaming licence: filing

Sep 13, 2022 Newsdesk Latest News, Macau, Top of the deck

Macau casino operator Wynn Macau Ltd says the group submitted on Tuesday (September 13) its bid for a 10-year gaming concession in Macau, adding that it expected such rights to start on January 1, 2023. The announcement was made in a filing to the Hong Kong Stock Exchange.

The company said that Wynn Resorts (Macau) SA, the entity that currently holds a Macau gaming licence on behalf of the group, “submitted a tender to the government of Macau … for the awarding of a 10-year gaming concession contract to operate games of chance or other games in casinos in Macau commencing on 1 January 2023.”

“Further announcement will be made by the company as and when appropriate,” it added.

Wynn Macau Ltd runs the Wynn Macau gaming resort on the city’s peninsula, and Wynn Palace (pictured), in the Cotai district.

The Macau government launched in July the public tender application process, which runs until Wednesday (September 14). The tender is expected to result in new concessions being able to start from the beginning of January next year.

Investment analysts have said they anticipate that the successful bidders to be selected by November or December. It is expected that all six incumbent operators will bid via the process.

According to the tender materials, interested parties must submit their respective proposals before 5.45pm, Macau time, on September 14. Companies must submit a range of required qualification documents and provide a deposit of at least MOP10 million (US$1.2 million).

The tender document specifies the factors that will be taken into consideration when evaluating the bids.

These include: a company’s proposal to expand the volume of tourists from foreign countries; a company’s experience in operating casinos or other relevant businesses; the benefits for Macau from the bidder’s respective investments in gaming and non-gaming projects; the firm’s plans regarding management of casino operations; its proposal for monitoring and preventing illegal activities in casinos; and its commitment to corporate social responsibility activities.