Local authorities have reportedly demanded that future gaming operators invest as much as MOP100 billion (US$12.4 billion) in total over a span of 10 years in the latest round of negotiations with the seven gaming licence bidders, TDM Radio Macau reported.
Citing people familiar with the details of the negotiations, the public radio service said that existing gaming operators Galaxy Entertainment Group and Sands China would be obliged to contribute more than MOP20 billion each, while the other four would take on a smaller share.
The revelation comes as the ongoing negotiation was reported to have entered its final stage.
Under a proposed requirement, companies to be awarded a gaming concession must support the government in funding international events such as the Macau Grand Prix and the Macao International Marathon, both of which the city’s signature sporting events that drew hordes of tourists to the city before the pandemic era.
The former was heavily bankrolled by Suncity Group before its demise, and the latter long sponsored by Galaxy Entertainment.
The gaming concessionaires will also have to extend a helping hand financially to smaller events held by local associations and backed by the government.
Another requirement put forth by government officials will see casino operators bring in musical concerts from abroad, such as China and South Korea.
The negotiation also signalled a return of the House of Dancing Water, a stage production by late Italian-born Belgian theatre director Franco Dragone, whose personnel were made redundant in the wake of the Covid-19 pandemic. The water-based show was said to be among Melco Resorts & Entertainment’s investment plans.
For now, foreign arrivals are still subject to five days of hotel-based quarantine and three days of highly restrictive home-based health monitoring.
All of those rules were designed to maximise the number of tourists to Macau, TDM Radio Macau said.
