All six current operators bid for new Macau gaming concessions

All the six incumbent gaming operators in the city have tendered their bids to the Macau government for new concessions, given the submissions from SJM Holdings Ltd, MGM China Holdings Ltd, and Galaxy Entertainment Group Ltd this afternoon (Wednesday).

As the deadline for the public tender of new gaming concessions, which concludes at 5:45 pm today, draws closer, SJM submitted its bid at around 2:30 pm today under the name of its subsidiary that currently holds the casino gaming rights, local newspaper Macau Daily News reported.

Senior executives of the operator, including Daisy Ho Chiu Fung and Angela Leong On Kei, were also present.

Shortly after, a team from MGM China, led by its co-chairperson and executive director Pansy Ho Chiu King, also tendered a bid under the name of its Macau unit, the report said.

Ms Pansy Ho was quoted saying they started the preparation for the tender a year ago and the company is confident being granted a new concession.

At around 3:30 pm, a team from Galaxy Entertainment Group, headed by its vice chairman Francis Lui Yiu Tung, also handed in its bid for a new concession, the report added.

The Macau government launched in late July a public tender for up to six 10-year gaming concessions that begin at the start of 2023, as the city’s current six gaming concessions and sub-concessions will expire by the end of this year.

Any interested parties can submit their bids by 5:45 pm today, including their proposals, relevant documents, and a deposit of at least MOP10 million (US$1.25 million).

The other three current gaming operators have already submitted their bids.

Wynn Macau was the first one, yesterday, followed by Sands China and Melco Resorts & Entertainment this morning.

Analysts have expected all the incumbent gaming operators in the city will be awarded new concessions with little competition from other parties.

According to the government’s requirements for this public tender, bidders have to detail in their bids how they will attract overseas gamblers and tourists for Macau, develop non-gaming investments, and undertake corporate social responsibilities among others.