Macau Casino concessions extended for six months until December 31, 2022
Macau Economy and Finance Secretary Lei Wai Nong today announced that the six SAR casino gaming operators will have their concessions extended from the former expiration date of June 26, 2022 to June 31, 2022. December 2022.
Lei spoke to the media after presenting to the Second Standing Committee of the Legislative Assembly (LA) on Thursday, saying the government was confident it could complete the process of amending the gambling law by June 26. – the old expiration date of the current six concessions – and start the bidding process after that.
“We informed game operators to prepare for the extension request,” Lei explained.
AGI predicted on Wednesday that the current concessions would be extended for six months.
As previously reported by AGI, the Gaming Bill is currently before the AL debating proposed amendments to the Gaming Act. Today was the first time that Secretary Lei and other government officials participated in the discussions of the AL’s second standing committee.
“We still have time and we will have a few more meetings with the second standing committee,” he said. Lei will also present to the second standing committee on Friday, March 4.
Lei did not respond when asked if the SAR government would extend the concessions again after December if the legislative and/or re-tender processes were delayed. AGI interpreted the tone of his remarks as representing the government’s hope to complete the entire re-bidding process, including determining the winning bidders and signing new concession contracts with the winning bidders, to by the end of 2022.
Once the revised gaming bill is passed, a public tender will be held after which a maximum of six concessions will be awarded. It is widely expected – but not certain – that the six current concessionaires will each get a new 10-year concession, the maximum term allowed by the gambling bill currently being considered by the AL.
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